Updated: 08/02/2013 1:34 PM |
Created: 08/02/2013 8:28 AM
By: Elizabeth Reed, KOB.com
This year, parents are expected to spend $634.78 on average for their children's school supplies, according to the National Retail Federation. But those taking advantage of tax free weekend in the New Mexico can save big on back to school necessities.
From Aug. 2-4, the state sales tax rate of 5.125% won't apply for certain items, plus any local sales tax. Shoppers can find these items tax free: School supplies under $30, clothes and shoes under $100, computers under $1,000 and computer equipment under $500.
At Cottonwood Mall, many stores will also have additional sales this weekend, so expect a busy crowd. Doors open at 10 a.m. on Friday.
"It is extremely helpful," Cottonwood Mall representative Cece Guidi said. "Parents and families save up and wait for tax free weekend in order to do the bulk of their shopping for back to school."
Coronado Mall and ABQ Uptown are also hosting tax free weekend. Uptown will be open from 10 a.m. to 10 p.m. Friday and Saturday. On Sunday, they are open from noon to 6 p.m.
The average amount parents will spend on back to school supplies has actually dropped more than $50 from last year.