Institutional Framework Assessment: Wisconsin Local Governments

This report does not constitute a rating action. The institutional framework (IF) is the set of formal rules and laws, practices, customs, and precedents, that shape the environment in which governments operate. Our assessment is mostly qualitative. We consider track record and future changes that are likely to shape the framework. The IF assessment includes the three subfactors: predictability (weighted at 25% of the assessment), revenue/expenditure balance and system support (50%), and transparency and accountability (25%). For additional information on how IFs are analyzed and assessed, please see the Institutional Framework section under Key Credit Factors in our " Methodology For Rating U.S. Governments ," published Sept. 9, 2024. The operating environment for Wisconsin local governments has been predictable and

...The operating environment for Wisconsin local governments has been predictable and stable. State statutes impose a levy limit on municipalities and counties that restricts annual levy increases to no more than the percentage change in equalized value due to new construction, less improvements. Since 2011, Wisconsin has not significantly altered levy limits aside from...

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