To convey a sense of urgency, "darted" or "scurried" would be more effective choices than "tiptoed" or "walked." Both "tiptoed" and "walked" imply a more cautious or leisurely pace, which does not match the urgency of the raccoon's movement. Here's how you might rewrite the sentence with one of the suggested verbs:
"When he saw the photographer, the raccoon darted into the underbrush."
or
"When he saw the photographer, the raccoon scurried into the underbrush."