(a) A Board of Review is hereby created, composed of three members who have the qualifications for holding elective city office as set forth in this charter and who are freeholders of property assessed for taxes in the city. The Council shall set the compensation of the members of the Board of Review, which compensation shall be on a per diem basis. No member of the Board of Review shall hold any city office.
(b) The members of the Board of Review shall be appointed by the Mayor, subject to approval of Council within twenty-one (21) days, and may be removed for reasons of nonfeasance, misfeasance or malfeasance by a vote of five (5) or more members of the Council. The first members shall be appointed within twenty (20) days immediately following the adoption of this charter, for terms expiring June 30, one year hence, two years hence, and three years hence. Thereafter, one member shall be appointed during the month of May of each year for a term of three years, commencing on July first following.
(c) The Board shall annually, on the first day of its meeting, select one of its members chairman for the ensuing year. The Assessor shall be Clerk of the Board, and shall be entitled to be heard at its sessions, but shall have no vote on any proposition or question.