New Jersey cancels 2024 tax holiday on back-to-school items

TRENTON (WABC) -- New Jersey shoppers looking to get a headstart on the back-to-school rush might have to dig a little deeper into their wallets this year.

The state will not be observing its annual tax exemption holiday.

The holiday, which was signed into law back in 2022, was repealed in this year's state budget.

The 10-day-long tax-free period was meant to ease the financial burdens of back-to-school shopping.

The end of the break comes as items and supplies needed for the upcoming year are estimated to cost about one percent more than they did last year.

According to the National Retail Federation, families will spend upwards of $850 on supplies and clothes as kids head back to school.