Many holidays can strain your family budget, but there’s one more holiday on the horizon this summer that might save you some money for a change. Ohio’s Sales Tax Holiday, which will take place August 5 through August 7, is returning for a second year to help families save more money while allowing them to invest in their highest priority—their children.
Once again this year, all shoes and clothing priced less than $75 will be exempt from state and local sales and use taxes during this period. School supplies and instructional materials priced at $20 or less will also be tax exempt. Even online vendors will be more affordable, as they will waive local and state sales taxes on designated items during the three-day tax holiday.
A win-win for parents, businesses and most importantly, students, Ohio's first-ever Sales Tax Holiday last year saved Ohioans approximately $3.3 million on back-to-school items during the three-day period. Statewide retail sales saw an increase of more than 6 percent in August 2015 and border counties fared even better as the event drew interest from across state lines.
I first supported this initiative in 2013 and I'm proud that earlier this year, the Ohio General Assembly approved Senate Bill 264 to ease the financial burden on families as they check off items from this year's shopping list.
Unlike holiday shopping in December, Ohio's Sales Tax Holiday gives everyday Ohioans a chance to keep more of their hard-earned money while helping to equip students for success in the classroom.
Don't forget to take advantage of this unique opportunity throughout the first weekend in August to stock up on school supplies or get the new outfit your child needs before returning to school.
Click here for more information about Ohio's Sales Tax Holiday, including specifics on which items qualify for savings.