polo ball families prepare for state tax
Tribune Chronicle / Virginia Shank
Renee Johnson browses school supplies at the Super Kmart in Howland. The Warren woman plans to take advantage of Ohio’s tax holiday this weekend when buying school supplies for her five grandchildren.
Add it up and, despite the common back to school sales parents typically find about this time each year, the cost of buying supplies can easily zap a family bank account.
Tack on sales tax and watch the bottom line jump even more.
had their school lists since the beginning of July, but we been waiting for a good sale or two to come along, said Gina Whitelock. know it coming each year, and you try to get ready, but it not easy. And it all adds up. ease some of that financial burden, Ohio will once again observe a sales tax holiday a weekend when shoppers are spared having to pay sales tax on back to school items and other qualifying products. Sunday, consumers purchasing qualifying items will save 6.75 percent in Trumbull County and 7.25 percent in Mahoning County.
think it great to not have to worry about paying sales tax, said Renee Johnson of Warren, who plans to buy supplies for her five grandchildren this weekend.
might not seem like you saving a lot, but it adds up, especially when you buying for several.
This year, the average family with children in grades K 12 is expected to spend $687.72 for school supplies, according to the National Retail Federation annual Prosper Insights and Analytics survey. Nationally, that amounts to $29.5 billion, or 8 percent more than last year $27.3 billion. Total spending is expected to be the second highest in the history of the survey following a peak of $30.3 billion in 2012.
College students and their families expect to spend an average of $969.88, marking an all time high, NRF reported. Total back to college spending is expected to be $54.1 billion, up from $48.5 billion last year and surpassing 2012 record of $53.5 billion.
Ohio is among 16 states to schedule sales tax holidays this year. The temporary tax exemptions apply to specific items outlined by each state. State lawmakers have since continued signing off, on a year by year basis, on what has become an annual tax break designed to help students and their families stretch their dollars.
Matthew Shay, NRF president / CEO, said part of the spending increase can be attributed to consumer confidence.
are now in a state of mind where they feel a lot more confident about the economy, Shay said. stronger employment levels and a continued increase in wages, consumers are spending more and we are optimistic that they will continue to do so throughout the rest of the year. As students head back to the classroom, retailers are prepared to meet their needs whether it for pencils and paper, shirts and pants or laptops and tablets. spending for school and college is projected to reach $83.6 billion an increase of more than 10 percent from last year $75.8 billion, NRF survey shows.
The increase in spending on the higher education level is driven, in part, to growing college enrollment that is projected to reach nearly 21 million this fall, according to the National Center for Education Statistics.
Meanwhile, area merchants, vendors and retailers have been getting ready for the holiday.
Joe Bell, director of corporate communications for Cafaro Co., which owns the Eastwood Mall in Niles, said there was increased foot traffic throughout the shopping complex last year over the tax free weekend, and it likely mall vendors will also see an uptick this weekend.
always a busy time of year and parents truly do take advantage of the fact that they not paying sales tax, Bell said.
Likewise, the Southern Park Mall in Boardman is also getting the word out to customers and has posted on its website reminders about the holiday.
Karlene Dolhun, manager at the Super Kmart in Warren, said the store has already started getting ready for the back to school shopping season.
think the tax holiday is a great idea. It helps local retailers because it makes it easier for customers to shop closer to home and not have to leave the state to save on sales tax, she said. people will drive to Pennsylvania to avoid paying sales tax on school clothes.