There shall be a board of assessment review consisting of three members who shall be qualified electors of the town and shall be appointed by the council for a term of three years. There shall be no more than two board members belonging to the same political party. If a member of such board shall cease to be a resident, that office shall thereby become vacant. The board of assessment review shall hear and consider the appeal of any property owner concerning the amount of the taxpayer's assessed valuation as determined by the [tax] assessor. The board shall keep an accurate record of its proceedings which shall be available for public inspection. If it shall appear that the valuation of any property has been erroneously or incorrectly assessed, the board shall have authority to order a correction. Such determination shall be certified by the board to the [tax] assessor whose duty it shall be to make such corrections in the valuation as the board may determine. If the tax roll has been certified by the [tax] assessor, the tax assessor shall transmit the findings of the board to the council, which may cancel in whole or in part the tax based on such valuation in order to effect a correction. The council shall provide by ordinance for the organization and procedure of the board of assessment review and for the manner of receiving, considering, and disposing of appeals. The taking of an appeal to the board of assessment review of any action thereon shall not be construed to limit or restrict the right of any taxpayer to apply to a court of competent jurisdiction for relief from any assessed valuation or tax. (Added, November 4, 2008.)