Tennessee Code Title 67. Taxes and Licenses § 67-5-214

(b)(1) There shall also be exempt from taxation any real property owned by cemeteries operated on a for-profit basis that has been prepared and is being held for burial purposes; provided, that the amount of such property shall not exceed the reasonable expectation of public needs.

(2) Cemeteries shall be required to apply for exemption and obtain approval of exemption by the state board of equalization, if charges are imposed for use of burial plots.