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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Pennsylvania Economic Development Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>San Antonio Education Facilities Corp.</name>
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        <name>City of Baltimore MD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Village Community Development District No. 15</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chicago Park District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Rhode Island Health and Educational Building Corp.</name>
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        <name>Arizona Industrial Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Southeast Energy Authority A Cooperative District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Clifton Higher Education Finance Corp.</name>
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        <name>Arizona Industrial Development Authority</name>
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        <name>Texas Transportation Finance Corp.</name>
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        <name>New York Transportation Development Corp.</name>
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        <name>Public Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>New York Transportation Development Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Indianapolis Local Public Improvement Bond Bank</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Medical University Hospital Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Public Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New York City Housing Development Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Lee County Industrial Development Authority/FL</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Phoenix Civic Improvement Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Central Plains Energy Project</name>
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        <fairValLevel>2</fairValLevel>
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        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>DeKalb County Housing Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Health &amp; Educational Facilities Authority of the State of Missouri</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Medical University Hospital Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-11-15</maturityDt>
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        <name>Illinois Finance Authority</name>
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          <isin value="US45203PAE43"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-12-01</maturityDt>
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        <name>Maryland Community Development Administration</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Community Housing Agency</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Pasco</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Westpointe Special Improvement District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>North Texas Tollway Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Terrell Independent School District/TX</name>
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          <isin value="US881405NW01"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Build NYC Resource Corp.</name>
        <lei>549300GROJFKMNLWEK84</lei>
        <title>Build NYC Resource Corp., Series 2025</title>
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          <isin value="US12008QAC33"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>City of Baltimore MD</name>
        <lei>N/A</lei>
        <title>City of Baltimore, Series 2017 A</title>
        <cusip>05922KZJ1</cusip>
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          <isin value="US05922KZJ14"/>
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        <balance>2085000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2094959.21000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lakeside Place PFC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Phoenix Civic Improvement Corp.</name>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>New York Liberty Development Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>California Community Choice Financing Authority, Series 2023 C</title>
        <cusip>13013JCM6</cusip>
        <identifiers>
          <isin value="US13013JCM62"/>
          <other otherDesc="Inhouse Asset ID" value="1238537"/>
        </identifiers>
        <balance>11000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11545289.80000000</valUSD>
        <pctVal>0.582679818676</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Illinois Finance Authority</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>Illinois Finance Authority, Series 2021 A</title>
        <cusip>45204FJP1</cusip>
        <identifiers>
          <isin value="US45204FJP18"/>
          <other otherDesc="Inhouse Asset ID" value="1144841"/>
        </identifiers>
        <balance>12645000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11755272.51000000</valUSD>
        <pctVal>0.593277446757</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>City of Celina TX</name>
        <lei>N/A</lei>
        <title>City of Celina, Series 2024</title>
        <cusip>15114CJW5</cusip>
        <identifiers>
          <isin value="US15114CJW55"/>
          <other otherDesc="Inhouse Asset ID" value="1419403"/>
        </identifiers>
        <balance>360000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>364588.81000000</valUSD>
        <pctVal>0.018400451212</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>County of Hamilton OH</name>
        <lei>549300TO1E3N4E4YIO28</lei>
        <title>County of Hamilton, Series 2025</title>
        <cusip>40727RDC9</cusip>
        <identifiers>
          <isin value="US40727RDC97"/>
          <other otherDesc="Inhouse Asset ID" value="1517360"/>
        </identifiers>
        <balance>525000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>536527.32000000</valUSD>
        <pctVal>0.027078024627</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Harvest Ridge Community Development District</name>
        <lei>N/A</lei>
        <title>Harvest Ridge Community Development District, Series 2024</title>
        <cusip>41756PAB0</cusip>
        <identifiers>
          <isin value="US41756PAB04"/>
          <other otherDesc="Inhouse Asset ID" value="1407977"/>
        </identifiers>
        <balance>260000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>260645.58000000</valUSD>
        <pctVal>0.013154535046</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Washington Health Care Facilities Authority</name>
        <lei>549300ZVPWQIL3N5TL85</lei>
        <title>Washington Health Care Facilities Authority, Series 2026 B-1</title>
        <cusip>93978HG25</cusip>
        <identifiers>
          <isin value="US93978HG254"/>
          <other otherDesc="Inhouse Asset ID" value="1624025"/>
        </identifiers>
        <balance>3500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3820334.70000000</valUSD>
        <pctVal>0.192808666464</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Columbus Metropolitan Housing Authority</name>
        <lei>N/A</lei>
        <title>Columbus Metropolitan Housing Authority, Series 2024</title>
        <cusip>19951AAV8</cusip>
        <identifiers>
          <isin value="US19951AAV89"/>
          <other otherDesc="Inhouse Asset ID" value="1426695"/>
        </identifiers>
        <balance>5500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5321652.05000000</valUSD>
        <pctVal>0.268578728232</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>County of Turner SD</name>
        <lei>N/A</lei>
        <title>County of Turner, Series 2025</title>
        <cusip>90027SBA5</cusip>
        <identifiers>
          <isin value="US90027SBA50"/>
          <other otherDesc="Inhouse Asset ID" value="1446883"/>
        </identifiers>
        <balance>4520000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4309944.75000000</valUSD>
        <pctVal>0.217518821003</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Iowa Higher Education Loan Authority</name>
        <lei>549300DWVTM3KRNR0M36</lei>
        <title>Iowa Higher Education Loan Authority, Series 2020</title>
        <cusip>4624607H3</cusip>
        <identifiers>
          <isin value="US4624607H33"/>
          <other otherDesc="Inhouse Asset ID" value="1118290"/>
        </identifiers>
        <balance>2595000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2651511.32000000</valUSD>
        <pctVal>0.133819259795</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State of Ohio</name>
        <lei>5493005LEB5E170OMX59</lei>
        <title>State of Ohio, Series 2020</title>
        <cusip>67756CEX2</cusip>
        <identifiers>
          <isin value="US67756CEX20"/>
          <other otherDesc="Inhouse Asset ID" value="1105418"/>
        </identifiers>
        <balance>905000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>866167.81000000</valUSD>
        <pctVal>0.043714667298</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-09-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Franklin Tax Free Trust</ncom:nameOfApplicant>
      <ncom:signature>Monica Krogh</ncom:signature>
      <ncom:signerName>Monica Krogh</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
