In October 1931, the Assumption Cemetery was closed by a decision of the city council. Magnificent tombstones made of marble and granite, sculptural compositions, sorrowful crosses, and elegant chapels were destroyed along with the name of the cemetery. The graves of many well-known and respected residents of old Tambov were lost forever. Now, the site of the former cemetery is occupied by Assumption Square. The cemetery got its name from the Church of the Assumption of the Blessed Virgin Mary, which was located on its territory. The old Assumption Church existed from 1818 to 1936.

In 2002, a stone chapel with one dome and a rectangular shape was built on the site of the old church. It was consecrated on August 28, 2004.