Tenn. Code § 67-5-515
Beginning on January 1, 2023, the operating property of a municipal or similar provider of broadband services that provides competitive local exchange telephone services or interconnected voice over internet protocol services through a dedicated telecommunications division and that makes in lieu of tax payments pursuant to title 7, chapter 52, part 4 or 6, or that makes similar in lieu of tax payments pursuant to a private act, and that is currently paying such in lieu of taxes based upon a rate of assessment of fifty-five percent (55%), shall be classified and assessed in the same manner as the operating property of a modern market telecommunications provider for purposes of calculating the in lieu of tax payments to be paid with respect to its operating property used to provide such competitive local exchange telephone services or interconnected voice over internet protocol services.
T.C.A. § 67-5-515