Property taxes are going up in Wake County. This is on top of a 2024 tax valuation that saw increases in tax assessed values of over 50%. Homeowners insurance is up 15% over the past two years. Auto insurance up 5%. Duke Energy is seeking an 18% increase after only recently getting a 20% increase. Increasing rates are decreasing consumer spending power as wages have not followed suit. Individually, each rate increase may not seem significant, but collectively, they are pushing an already cash-strapped middle class to their breaking point.
