monopoly_money.jpgRequests for property tax reductions from San Francisco homeowners have spiked 2,500 percent in the past four years, the city’s assessor-recorder said Wednesday.

Though it is not yet known how many of the 6,642 requests for the 2010-11 fiscal year will be approved, the number marks a continuous upward rise in requests for review since fiscal year 2007-08, when 248 requests were made, according to Assessor-Recorder Phil Ting.

Ting attributed the trend to “the downturn in the real estate market, as well as the simplification of the informal review application process and an increase in multilingual outreach by our office.”

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