What happens to your tax money while you appeal

(a) In any case of any appeal to the tax appeal court, 50 percent of the tax paid upon the amount of the assessment actually in dispute and in excess of that admitted by the taxpayer shall, pending the final determination of the appeal, be paid by the director into the “litigated claims account.” If the final determination by the tax appeal court is in whole or in part in favor of the appealing taxpayer, the director shall repay to the taxpayer out of the account, or if there is a deficit in the account, out of the general fund of the city, the amount of the tax paid upon the amount held by the court to have been excessive or nontaxable. Interest at a rate to be determined by the director based upon the average interest rate earned on city investments in the general fund during the previous fiscal year shall be paid to the appealing taxpayer unless otherwise agreed to by the taxpayer and the director. Interest shall be calculated from the date of each payment by the taxpayer. The balance, if any, of the payment made by the appealing taxpayer and paid into the litigated claims account, or the whole of the payment paid into the litigated claims account, if the decision is wholly in favor of the assessor, shall, upon the final determination become a realization of the general fund. (b) In case of any appeal to the board of review, 50 percent of the tax paid upon the amount of the assessment actually in dispute and in excess of that admitted by the taxpayer, shall during the pendency of the appeal and until and unless an appeal is taken to the tax appeal court, be held by the director in a special deposit account. If the final determination by the board of review is in whole or in part in favor of the appealing taxpayer, the director shall repay to the taxpayer out of the account, or if there is a deficit in the account, out of the general fund of the city, the amount of the tax paid upon the amount held by the board of review to have been excessive or nontaxable. Interest at a rate to be determined by the director based upon the average interest rate earned on city investments in the general fund during the previous fiscal year shall be paid to the appealing taxpayer, unless otherwise agreed to by the taxpayer and the director. Interest shall be calculated from the date of each payment by the taxpayer. The balance, if any, of the payment made by the appealing taxpayer and paid into the special deposit account or the whole of the payment paid into the special deposit account, if the decision is wholly in favor of the assessor, shall, upon the final determination become a realization of the general fund. )