On the site where the bell tower of the Assumption Church now rises on the banks of the Sukhona River, there used to be a courtyard of the Prilutsky Monastery with a wooden temple of St. Dimitri. Because of this, the nearby stream was named Dimitrievsky. The stone church was built in several stages, leading to a mix of architectural styles from different eras.

The first Assumption temple was built between 1749 and 1755, but due to structural weaknesses, it was almost completely dismantled by 1800. Only a small part with baroque pediments and the lower floor of the bell tower with elements of Totma baroque remained. The construction of a new bell tower was halted and later resumed when decorations with cartouches went out of fashion. On the southern and western walls, one can see how simple ovals laid out in the early 19th century cover older elements, indicating the gradual disappearance of Totma baroque.

The church was closed as the last of the Totma churches in 1937. From 1937 to 1962, it housed a food industry workshop, then a confectionery workshop. Artist Georgy Ivanovich Popov recalled how in the 1950s, as a boy, he and a friend climbed inside and ascended to the top of the dome, which lacked a spire. There they sunbathed and watched the steamers, and this scene was reflected in one of the master's best works, "Totma." From the early 1960s until 1973, a shop selling kerosene, nails, and work tools was located in the northern part of the building adjacent to the bell tower. The eastern part housed a film verification office of the Totma Film Distribution, which existed until the early 1990s.

Today, the Assumption Church is one of the few examples of successful restoration of Totma baroque monuments. Since 1995, it has housed the Museum of Church Antiquities of the Totma Museum Association. On November 5, 2016, new bells were raised to the bell tower, made with funds from philanthropist Vladimir Glazachev and installed by the efforts of LLC "Totma Restoration" with the support of the Jubilee Linear Management of Main Gas Pipelines. The first chimes sounded on August 13 as part of the City Day and the Transfiguration Fair.