The first question is what defines "high" with the nitrate at the last part of the cycle?
As Pico said - close as possible to 0 is desirable.
To expand on the water change question, every tank is different. The bottom line is 'enough' water must be changed regularly to maintain good parameters. Much depends on biological load and feeding habits. Lots of inhabitants, heavy feeding = more water to change.
I usually suggest starting with 10% per week OR 20% every other week and monitor parameters to see if that works. Weekly is better than bi-weekly, a smaller volume changed more often keeps parameters more stable and changes more net water over time. If you find that with 10% a week, nitrate and/or phosphate climbs over time, then more water should be changed - OR it's time to revisit feeding etc., and make sure filtration is working at its best, sponges/pads/socks are cleaned often enough and skimmer is performing at its best.
Jenn