How are property tax rates determined in Iowa?

Property tax rates in Iowa are set by each taxing district (municipality, school district, park district, library, etc.) based on their annual levy (the amount of tax revenue they need). The rate is calculated by dividing the levy by the total assessed value of all property in the district.

What is the composite tax rate?

The composite tax rate is the sum of all overlapping taxing district rates that apply to a specific property. A typical property may be taxed by several overlapping districts. The composite rate determines your total tax bill when multiplied by your property's assessed value.

Why do tax rates vary within the same town?

Properties within the same municipality can have different composite rates because overlapping districts (school, park, fire, library) have different boundaries. A home in one school district may have a different rate than a home two blocks away in a different school district.

Ely, IA Property Tax Rate 2026 — Full Breakdown by District

Showing latest tax year with year-over-year changes. Full rate history available with a paid plan. See products & pricing →

Property Tax — Tax Year 2025 (payable 2026)i

IA Dept of Management Property Tax

Composite Ratei

2.74%–3.55%+48.9%YoY

Varies by school district

Municipal Portioni

0.0000%0% of total

Effective Ratei

1.27%–1.64%

Est. Annual Taxi

$4K–$5K

Median Home Valuei

$311,900

Rate varies by school district. Your actual rate depends on which school district your property falls in.

Rate Trend — click a year to explorei

20242025

Municipal

Other Districts

Where Your Tax Dollar Goesi

$1.13 ELY CITY/COLLEGE SCH

$1.13 ELY CITY/COLLEGE SCH/AMEND # 2 BASE

$1.13 ELY CITY/COLLEGE SCH/ELY AMEND TIF BASE

$1.13 ELY CITY/COLLEGE SCH/AMEND # 3 UR TIF BASE

$0.87 ELY CITY AG/COLLEGE SCH/AMEND # 2 BASE

$0.87 ELY CITY AG/COLLEGE SCH/ELY AMEND TIF BASE

$0.87 ELY CITY AG/COLLEGE SCH

$0.87 ELY CITY AG/COLLEGE SCH/AMEND # 3 UR TIF BASE

$0.87 ELY CITY AG/COLLEGE SCH/ELY CITY/BASE

Estimated Tax by Home Valuei

$200K

$1,826–$2,364

$250K

$2,282–$2,955

$300K

$2,739–$3,546

$350K

$3,195–$4,138

$400K

$3,651–$4,729

$450K

$4,108–$5,320

$500K

$4,564–$5,911

Highlighted value is closest to median home value ($312K)

9 Overlapping Taxing Districtsi

ELY CITY/COLLEGE SCH

112.9%3.5468%

ELY CITY/COLLEGE SCH/AMEND # 2 BASE

112.9%3.5468%

ELY CITY/COLLEGE SCH/ELY AMEND TIF BASE

112.9%3.5468%

ELY CITY/COLLEGE SCH/AMEND # 3 UR TIF BASE

112.9%3.5468%

ELY CITY AG/COLLEGE SCH/AMEND # 2 BASE

87.1%2.7388%

ELY CITY AG/COLLEGE SCH/ELY AMEND TIF BASE

87.1%2.7388%

ELY CITY AG/COLLEGE SCH

87.1%2.7388%

ELY CITY AG/COLLEGE SCH/AMEND # 3 UR TIF BASE

87.1%2.7388%

ELY CITY AG/COLLEGE SCH/ELY CITY/BASE

87.1%2.7388%