The City’s assessor-recorder announced Wednesday that 2008 property assessments totaled $142 billion, an 8.74 percent increase from last year’s $130.6 billion. Nearly 50 percent of property taxes go to The City’s operating budget, 33 percent to schools, 9 percent to debts owed by The City, 7 percent to special revenue and 1 percent to transit. Property owners have until Aug. 15 each year to request an informal review of their property and until Sept. 15 to file a formal appeal.assessor-recorderBay Area NewsLocalPhil Ting