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New York

Upper West Siders to contest valuation spike

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Residents of a condominium building on West End Avenue And 91st Street found out recently that the price of their apartments rose 400 percent in one year, according to the city’s tax assessment. The residents are not happy. They have hired a lawyer to contest the assessment in a hearing this Thursday. The value of the building jumped from $2.6 million to about $13 million, meaning that residents’ taxes also increased sharply. more [NYT]