I've lived there for 3 years and prefer it to living in Ankeny. My wife and I are from small Iowa towns (hers less than 1,000 people/mine less than 3,000) so that is what we are used to. Now that we have a Fareway, it's even better. The city is growing quickly, so it's hard to say how much longer North Polk Schools will be in class 2A. There are several new housing developments under construction now as well as a new retail strip mall going up soon.
Our kids aren't in school yet so I can't comment on that. The middle school and brand new high school are in Alleman which I think was a mistake.
If the bond referendum passes in August, Polk City will get a new baseball/softball complex, new soccer complex, and an aquatic center/pool.
Property taxes are lower than many of the other municipalities in the metro as well.
Anything else specific you'd like to know? What area of Polk City are you looking at?