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(a) As soon as practicable after a tax return is filed, the finance director shall examine it and shall determine the correct amount of tax.

(b) If the amount paid exceeds that which is due, the finance director shall authorize a credit equivalent to the amount of overpaid taxes, plus interest computed at an annual rate equal to the average earnings rate on the investment portfolio of the city for the preceding month.

(c) If the amount paid is less than the amount due the difference, together with penalty and interest thereon, shall be paid by the taxpayer within 20 days after a notice of assessment is issued to the taxpayer by the finance director; provided, however, that within such 20-day period, the taxpayer may petition the finance director for a hearing on such assessment as provided in this article. (Code 1979, § 36-162)