Printer-friendly versionPDF version Tennessee Code AnnotatedTennessee Attorney General Opinions Reference Number: CTAS-1469 Property is divided into three classes for taxation purposes: (1) real property; (2) tangible personal property; and (3) intangible personal property.1 1Tenn. Const., art. II, § 28; T.C.A. § 67-5-503. Real Property Tangible Personal Property Pollution Control Book traversal links for Property Classification ‹ Property Taxes Up Real Property › PrintPDF