City Financial Info

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Budget & Financial Info

This page includes some information on the financial aspects of the City of Ely, including the City’s annual budget and the most recent annual financial report. Draft version of FY16-17 budget spreadsheet. City Council has not approved this draft, there will be a public hearing March 14, 2016 regarding the FY 16-17 budget. Draft Budget in State of Iowa required format. City Council has not approved this draft, there will be a public hearing March 14, 2016 regarding the FY 16-17 budget Approved FY 15-16 Budget. Approved FY 15-16 Budget in State of Iowa required format. Annual Financial Report for FY 14-15.

Property Tax Rates

City of Ely

Linn County

College
Community
District

Other*

Total Levy rate

Ely % of Total

FY 16-17 Proposed $ 8.34266 $ 8.34266
FY 15-16 Actual $ 8.36024 $ 31.78619 26%
FY 14-15 Actual $ 8.36390 $ 6.14191 $ 14.80342 $ 1.05754 $ 30.36677 28%
FY 13-14 Actual $ 8.37894 $ 6.11191 $ 15.08387 $ 1.32167 $ 30.89639 27%
FY 12-13 Actual $ 8.39119 $ 6.11191 $ 15.80308 $ 1.64296 $ 31.94914 26%
FY 11-12 Actual $ 8.33785 $ 6.11117 $ 16.55788 $ 1.59032 $ 32.59722 26%
FY 10-11 Actual $ 9.79265 $ 6.06829 $ 17.20361 $ 1.49790 $ 34.56245 28%
FY 09-10 Actual $ 9.81816 $ 5.95245 $ 17.21168 $ 1.45499 $ 34.43728 29%
FY 08-09 Actual $ 10.33270 $ 6.14971 $ 16.84626 $ 1.47989 $ 34.80856 30%
FY 07-08 Actual $ 10.44361 $ 5.89000 $ 17.33321 $ 1.23853 $ 34.90535 30%
FY 06-07 Actual $ 10.44518 $ 5.69014 $ 17.33321 $ 1.23853 $ 34.70706 30%
FY 05-06 Actual $ 10.44523 $ 5.73231 $ 15.21947 $ 0.97102 $ 32.36803 32%
FY 04-05 Actual $ 10.38312 $ 5.51347 $ 13.42574 $ 0.98101 $ 30.30334 34%
FY 03-04 Actual $ 10.27630 $ 5.29322 $ 14.73088 $ 0.97721 $ 31.27761 33%

Ely has experienced considerable residential, and some commercial, growth over the last several years. Growth affects the City’s finances in the form of “taxable value”, which is the amount the property tax rate is applied to when you pay your property taxes. Increasing “taxable value” means Ely is able to minimize property taxes to the greatest extent possible.

Taxable Value – City of Ely

Fiscal Year

General
Taxable
Valuation

Change

Taxable
Valuation
Including
TIF District

Change

Ag Land
Value

Change

FY 16-17 65,914,851 7% 73,729,990 6% 321,548 12%
FY 15-16 61,463,310 7% 69,883,963 7% 288,105 3%
FY 14-15 57,673,685 6% 65,479,486 7% 279,714 -4%
FY 13-14 54,427,666 8% 61,408,872 6% 289,959 2%
FY 12-13 50,591,639 6% 57,814,241 7% 284,655 -1%
FY 11-12 47,937,884 8% 53,801,281 6% 287,198 1%
FY 10-11 44,446,219 8% 50,612,156 6% 283,180 8%
FY 09-10 41,263,705 7% 47,850,838 6% 261,087 5%
FY 08-09 38,636,144 9% 45,111,970 7% 249,800 1%
FY 07-08 35,602,184 6% 42,329,870 4% 248,039 -3%
2006-07 33,551,493 8% 40,576,276 6% 255,767 1%
2005-06 31,181,337 7% 38,300,922 6% 252,293 -2%
2004-05 29,034,917 13% 36,104,759 11% 257,201 -14%
2003-04 25,607,231 32,512,784 298,369