This weekend marked the first New Mexico tax fee holiday. At first I was excited about the prospects, however the limitations will not be of much help for me. It’s designed to help the back to school shopper with a $100 limit on individual clothing items and $1000 limitation on a computer and only back to school type items.
Any computer I purchase will cost well over a $1000, so I can pretty much forget about that. However all the clothing stores were further adding to the savings by having sales so I went out on friday, the first day of the holiday, and purchased some clothing, figuring that Friday would be less busy than Saturday or Sunday, I went out on lunch time only to be surprised to find quite a crowd. I hate shopping with crowds so it’s better that I did try Friday because the malls were packed over the weekend.
I didn’t save that much from the lack of sales taxes. New Mexico’s tax rate is only about 6% and I only spent about $100 on clothes. Where I did save significant money was on the sales themselves and I don’t think there would have been as many of them all at once if it wasn’t for the holiday. I figure I saved about $200. Those people with kids who have to spend hundreds of dollars of clothes and school supplies will really make out. I also heard that retailers are saying that it’s been as good as Christmas.