Should I have to pay my mortgage bank to cancel PMI?

The principle of my mortgage just passed the 20% threshold where I can cancel private mortgage insurance. But the bank told me that they would have to assess the property to the tune of nearly 0 before they will cancel PMI. Is that standard practice, or am I getting hosed?
Leo F: It is for the appraisal, but the problem I have with that is that the PMI is for the bank's benefit, not mine. Why should I have to pay a cent to get that canceled?

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Tags: benefit, insurance, leo, pmi, principle, private mortgage insurance, threshold