When looking for a home in Annandale, most people first consider the home price and mortgage.

However, once you actually buy a home, one significant expense that cannot be overlooked is property tax.

Annandale is part of Fairfax County. Since it is an area with high home prices in Northern Virginia, even if the tax rate is not extremely high, the actual amount paid can be substantial.

As of FY2025, the basic property tax rate in Fairfax County is $1.125 per $100 of assessed value. In simpler terms, that's about 1.125%.

For example, let's say the county assesses our home's value at $700,000.

Simple calculations would show an annual tax of about $7,875. Dividing that by 12 gives approximately $656 per month. Just because the mortgage is $3,500 a month doesn't mean housing costs end there. You also have to account for property tax, homeowners insurance, and possibly HOA fees.

Given the high home prices in Fairfax County, the average burden is significant. At that time, the average assessed value of taxable residential properties in the county exceeded $740,000. For a home at this level, the basic property tax alone would be over $8,000 a year.

However, for those moving from areas like Texas where property taxes are high, you might feel that "the tax rate is lower than expected." The issue is that home prices themselves are high.

Additionally, there's something important to note.

If I bought a home for $700,000, I won't continue to pay taxes based on that $700,000 value. The county reassesses property values, so if home prices rise, taxes can increase even if the rate remains the same.

Therefore, when buying a home in Annandale, it's wise to consider not just the current property tax but also the potential for gradual increases in the future when budgeting.

So, where does the tax revenue go?

One of the major expenses in Fairfax County is the Fairfax County Public Schools (FCPS).

In the FY2025 budget, the county allocated about $165 million more for FCPS operations compared to the previous year, an increase of about 6.8%. However, this did not meet the amount requested by the schools.

Thus, whenever property tax discussions arise in Fairfax County, school budget discussions naturally follow.

Families with children may view this differently. While taxes can be burdensome, a significant portion of that money is used to maintain local public schools and various public services. The quality of school districts and living conditions in Northern Virginia, including Annandale, also affects home prices.

Another important point to keep in mind is the assessed value of your home.

You can check your home's assessed value through the Fairfax County Department of Tax Administration. If you believe your home has been assessed too high compared to similar homes in the area, there is a process to appeal within a specified timeframe.

Ultimately, if you buy a $700,000 home in Annandale, you can't just calculate the mortgage. Property taxes alone could add over $600 a month.

While the home price is visible in listings, property taxes are a hidden expense that accumulates monthly. When buying a home in Annandale, it's much more realistic to consider not just "how much is the house" but also "how much will it cost to maintain this house each year."