(a) A Board of Review is hereby created, composed of three members who shall be registered electors of the City who have the qualifications for holding office in the City, as set forth in Section 80 of this Charter, and who are owners of property assessed for taxation in the City. The members of the Board of Review shall be appointed on the basis of their knowledge and experience in property valuation.
(b) The members of the Board of Review shall be appointed by the Mayor, subject to the confirmation of the Council. The first members shall be appointed during the month of January, 1959 for terms expiring on July 1, 1960, 1961 and 1962. Thereafter, one member shall be appointed by the Mayor and confirmed by the Council in the month of May of each year, for a term of three years, commencing on the following July 1st.
(c) The Board shall, annually, on the first day of the meeting, select one of its members chairman and one of its members clerk for the ensuing year. The Assessor shall be entitled to be heard at its sessions, but shall have no vote on any proposition or question before the Board.
(d) The members of the Board of Review shall be paid such compensation as the Council may determine.