(a) The board by majority vote may elect to have district taxes assessed and collected by a tax assessor-collector appointed by the board. An election under this subsection must be made before December 1 and governs the manner in which taxes are assessed and collected, until changed by the board.
(b) The district tax assessor-collector must:
(1) reside in the district; and
(2) own real property subject to district taxation.
(c) The board shall prescribe the district tax assessor-collector's term of employment and compensation.