Carlsbad Business: New Mexico's tax holiday saves money for families headed back to school

Whether they're entering college or kindergarten, sending kids off to school is not cheap. This weekend, parents can save a little money by not having to pay state sales tax on certain purchases at participating retailers.

The tax holiday is from Friday to midnight Sunday.

The tax rate varies across the state, but exceeds 8 percent in some communities. In Carlsbad and Artesia, the sale tax rate is 7.438 percent.

No tax will be imposed on computers up to $1,000, including tablets; and computer hardware, such as a printer, that costs no more than $500.

Also tax-free are school supplies under $30 and certain clothing and shoes up to $100.

Cell phones, iPods, and MP3 players are subject to taxation.

Using common sense could help you save even more money. Whether you plan to shop here or elsewhere in the state, before you do, it may be beneficial to do some comparison shopping either on online or in person, money experts say. Using store coupons that you get in the mail or in the newspaper can also help bring down the cost.

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We all know that the oil and gas industry is booming in Eddy County. But how long it is going to last is unknown. Some predict that it could be as long as seven years. If that's true, the lack of affordable housing will continue to be a problem, schools will remain overcrowded and the main thoroughfares through downtown Carlsbad will continue to be congested.

Mayor Dale Janway recognizes that

if the boom continues as some predict, local government leaders need to work on plans allowing for the growth of Carlsbad in an orderly fashion while accommodating the industry that has brought financial prosperity to Carlsbad and Eddy County. He has called for an oil and gas summit to get the ball rolling for Carlsbad's economic future.

The summit is scheduled for Aug. 26 from 11 a.m. to 3:30 p.m. at the Walter Gerrells Civic Center Annex, 4021 National Parks Highway. The free summit and lunch is open to the public, but registration to attend is required. Deadline to register is Aug. 19.

Guest speakers will include oil and gas consultants Billy Munn and Keith Morris; Jim Peach from New Mexico State University and a panel representing local community planning experts.

The summit is being sponsored by local businesses that include Western Commerce Bank; Carlsbad Insurance Agency; Means Real Estate, Carlsbad National Bank; Carlsbad Department of Development; City of Carlsbad and Eddy County.

To register call (575) 887-3798 or email mayor.office@cityofcarlsbad.com.

Stella Davis may be reached at (575) 628-5546 or savis@currentargus.com.

Source: http://www.currentargus.com/ci_23756127/carlsbad-business-new-mexicos-tax-holiday-saves-money?source=rss_viewed

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