20. Quezon City assessed the Light Rail Transit Authority (LRTA) of real property taxes on its properties consisting of lands, buildings, machineries, and terminal stations. Despite repeated demands from Quezon City, LRTA failed to pay its outstanding obligations, prompting the city to issue a notice of delinquency with warrants of levy. LRTA questioned the assessments of Quezon City, claiming that it is exempt from real property tax. LRTA argues that it is operating a light rail transit system for the Philippines, which is the true owner of the subject real properties. Is LRTA exempt from real property tax? Explain briefly. Page 7 of 7