(a) An authority is exempt from taxation of or assessments on:
(1) a turnpike project or system;
(2) property the authority acquires or uses under this chapter; or
(3) income from property described by Subdivision (1) or (2).
(b) An authority is exempt from payment of development fees, utility connection fees, assessments, and service fees imposed or assessed by a county, municipality, road and utility district, river authority, any other state or local governmental entity, or any property owners' or homeowners' association.