If, after such hearing, the court is satisfied that the proposed compromise is proper and to the advantage of the taxing authorities interested, or any of them, and that it will enable the owner to keep such real property productive, it shall enter a decree approving such compromise settlement with such petitioning tax authority and any other tax authority desiring to join in such settlement, or such other settlement as the court may find proper and just. The proceeds of such compromise shall be distributed to the respective taxing authorities in proportion to their claims.