Sec. 20. Tax exemption

The exercise of the powers granted by this Subtitle is in all respects for the benefit of the people of the State of Maryland and of the district and is a public purpose and the district and the Commission will be performing an essential governmental function in the exercise of the powers conferred by this act. Accordingly, the district shall not be required to pay taxes or assessments upon any property acquired by it or under its jurisdiction, control, possession or supervision or upon its activities or upon any revenues therefrom and the property and the income derived therefrom shall be exempt from all State, County and local taxation.