Tennesseans could save up to 10 percent on some purchases
CHATTANOOGA (WDEF) — Inflation continues to make budgets challenging for Americans all throughout the country.
But here in Tennesee, residents of the Volunteer State will soon be enjoying a much-needed “holiday” to help a little at home.
Residents are currently enjoying a sales tax holiday on gun safes and safety equipment that will run through the end of June 2023.
But two additional sales tax holidays will be starting shortly on food, clothing, school supplies and more.
Tennessee Revenue Commissioner David Gerregano says the state’s General Assembly wants “Tennesseeans to know about these holidays so they can take advantage” of the tax relief.
East Ridge resident and father of five, Dan Pacitti, says he and his family will certainly do so.
“We filed for taxes, we got child tax credits and everything, and already those have kind of run out,” Pacitti said. “Like, we filed taxes early and the credit ran out sometime June and July just because of the cost of things going through the roof.”
The state sales tax holiday on food and food ingredients begins August 1 and lasts the whole month.
Pacitti says his family will need it, as the weekly grocery budget has ballooned over the course of the year.
“We normally would spend about maybe $100-150 a week on groceries,” Pacitti said. “That’s gone up because of inflation. Now it’s somewhere like $175-200.”
Shannon Johnson of Chattanooga’s Real Good Smokehouse believes the tax holiday on school supplies will also be imperative for parents before kids head back to school next month.
“From a back-to-school standpoint, it’s huge – buying school supplies, making sure they have clothes to go to school,” Johnson said. “And again, with inflation being what it is, any break that families can have at back-to-school time is super important.”
Johnson believes that families from just over state lines will also benefit, which in turn will help Tennessee’s economy boom in the coming weeks.
“It may even drive some traffic from neighboring states,” Johnson said. “Here in Chattanooga, we benefit from having the borders of Georgia and Alabama very close by. So, driving some traffic from those states can be beneficial as well.”
Pacitti understands some may be worried that a lack of taxes being paid in the state may lead to a lack of funding elsewhere.
However, he believes that “if families aren’t taken care of,” it will be much harder for them to “contribute to the state” in return, making it harder for the state to recover in the future.