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District lost $100m in property tax revenue in 2011

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The District lost almost 10 percent of its property value to the lingering recession during the past two years -- nearly $14 billion in assessed worth wiped out, according to a new report by D.C.'s top financial officer. The plummeting value of city real estate cost the D.C. government more than $100 million in property taxes in fiscal 2011, the report found. The revenue loss only hit...