(a)      All land or other property acquired by the Commission for the purposes specified hereinabove, or any of them, shall be exempt from State, county, and municipal taxes.

      (b)      All land dedicated to the Commission pursuant to the provisions of § 50-15 of the Montgomery County Code (1984 Edition) or § 7-132 of the Code of Public Local Laws of Prince George's County (1987 Edition) is property acquired by the Commission within the meaning of this section.