Thinking of buying a new car, a laptop, or a closet full of clothing in the near future? If you shop in Ohio, you will have to pay another 1/4 percent in sales tax, beginning on Sunday, Sept. 1.
It's all part of a new tax plan approved by Gov. John Kasich and Ohio lawmakers. Your income tax will be reduced slightly, offsetting the increase for most working families.
-In Hamilton, Clermont, and Warren County the sales tax rises from 6.5 percent to 6.75 percent.
-In Butler County, the sales tax rises from 6.25 percent to 6.5 percent.
9 Things That Will Cost More
The good news: You'll barely notice the sales tax hike, unless you are buying a big ticket item, like a new car, boat, or kitchen.
It will add an extra penny onto every $4 item you buy.
So there's no need to rush out to buy a new shirt, for instance, to beat the sales tax hike. But if you are buying a new car, you might want to close the deal on Saturday, Aug. 31, as opposed to on Monday, Sept. 2.
Here is how much more you will pay for 9 popular items:
1. A $20 steak: an extra nickel
2. A $40 restaurant dinner: an extra 10 cents
3. A $500 IPAD: an extra $1.20
4. An $800 HDTV: an extra $2
5. A $1,000 refrigerator: about $3 more.
6. $20,000 car: about $50 more. OK, now we are finally talking real money.
7. A $40,000 SUV: An extra $100. But hey, that sure is a nice SUV!
8. $50,000 worth of new kitchen cabinets, granite counters, and high end appliances: An extra $110. You'll get it back at resale time, though.
9. A $90,000 cabin cruiser boat: An extra $205. But hey, if you can afford a $90,000 boat, that's chump change. Oh, and please invite me along for a cruise.
As always, don't waste your money.
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