Sales Tax Holiday Expected to Save Floridians $50 Million
August 2nd, 2019 by Jake Stofan
Florida families are expected to save upwards of $50 million over the next five days during this year’s back to school sales tax holiday.
The projected savings are nearly $20 million over last year.
Families buying supplies for children in grade school are expected to save $700 on average this year and families shopping for college students are anticipated to save $1,000.
James Miller with the Florida Retail Federation says the increased savings are primarily due to the inclusion of bigger budget items like technology products up to $1,000.
Also because this year’s holiday is five days, instead of three like in years past.
“Both numbers are very encouraging and shows once again how strong Florida’s economy is. It’ shows that people have a lot of money in their pocket to spend,” said Miller. “They’re feeling good about their job, feeling good about their financial situation and I think it means good things for retailers this year.”
The sales tax holiday ends Tuesday, August 6th.
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