Is it constitutional to allow churches (and businesses owned by churches) to be tax free?

Is it a law that exempts churches from taxes?

If the first amendment states:

“Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.”

then wouldn’t any law giving churches a tax free status be unconstitutional? Wouldn’t any law giving churches special treatment (for or against) be unconstitutional?