00007031122012-10-012012-10-010000703112fnytfif:S000006862Member2012-10-012012-10-010000703112fnytfif:S000006862Memberfnytfif:C000018541Member2012-10-012012-10-010000703112fnytfif:S000006862Memberfnytfif:C000018542Member2012-10-012012-10-010000703112fnytfif:S000006862Memberfnytfif:C000018543Member2012-10-012012-10-010000703112fnytfif:S000006862Memberfnytfif:C000018544Member2012-10-012012-10-010000703112fnytfif:S000006862Memberfnytfif:C000018541Memberrr:AfterTaxesOnDistributionsMember2012-10-012012-10-010000703112fnytfif:S000006862Memberfnytfif:C000018541Memberrr:AfterTaxesOnDistributionsAndSalesMember2012-10-012012-10-010000703112fnytfif:S000006862Memberfnytfif:Index8Member2012-10-012012-10-01 iso4217:USD xbrli:pure xbrli:shares iso4217:USD xbrli:shares 0000703112FRANKLIN NEW YORK TAX FREE INCOME FUND485BPOS2012-09-272012-10-012012-05-31false2012-10-01~ http://xbrl.sec.gov/rr/role/RiskReturnDetail column period compact * row primary compact * ~Fund SummaryInvestment GoalTo provide investors with as high a level of income exempt from federal, New York State and New York City personal income taxes as is consistent with prudent investment management and the preservation of shareholders' capital.Fees and Expenses of the FundYou may qualify for sales charge discounts in Class A if you and your family invest, or agree to invest in the future, at least $100,000 in Franklin Templeton funds.100000These tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts in Class A if you and your family invest, or agree to invest in the future, at least $100,000 in Franklin Templeton funds. More information about these and other discounts is available from your financial professional and under “Your Account” on page 25 in the Fund's Prospectus and under “Buying and Selling Shares” on page 37 of the Fund’s Statement of Additional Information.SHAREHOLDER FEES (fees paid directly from your investment)~ http://xbrl.sec.gov/rr/role/ShareholderFeesData column dei_LegalEntityAxis compact fnytfif_S000006862Member column rr_ProspectusShareClassAxis compact * row primary compact * ~0.04250.000.000.000.000.04000.01000.00<div><p>ANNUAL FUND OPERATING EXPENSES</p><p>(expenses that you pay each year as a percentage of the value of your investment)</p></div>~ http://xbrl.sec.gov/rr/role/OperatingExpensesData column dei_LegalEntityAxis compact fnytfif_S000006862Member column rr_ProspectusShareClassAxis compact * row primary compact * ~0.00450.00450.00450.00450.00100.00650.00650.000.00050.00050.00050.00050.00600.01150.01150.0050ExampleThis Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of the period. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:4846097461143~ http://xbrl.sec.gov/rr/role/ExpenseExample column dei_LegalEntityAxis compact fnytfif_S000006862Member column rr_ProspectusShareClassAxis compact * row primary compact * ~5176658331244217365633139851160280628If you do not sell your shares:~ http://xbrl.sec.gov/rr/role/ExpenseExampleNoRedemption column dei_LegalEntityAxis compact fnytfif_S000006862Member column rr_ProspectusShareClassAxis compact * row primary compact * ~11736563312441173656331398Portfolio Turnover0.0555<div><p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 5.55% of the average value of its portfolio.</p></div>Principal Investment StrategiesUnder normal market conditions, the Fund invests at least 80% of its total assets in securities whose interest is free from federal income taxes, including the federal alternative minimum tax, and from New York State personal income taxes.<div><p>Under normal market conditions, the Fund invests at least 80% of its total assets in securities whose interest is free from federal income taxes, including the federal alternative minimum tax, and from New York State personal income taxes. In addition, the Fund invests at least 65% of its total assets, although it generally invests more, in securities that pay interest free from New York City personal income taxes. Although the Fund tries to invest all of its assets in tax-free securities, it is possible that up to 20% of the Fund's total assets may be invested in securities that pay interest that may be subject to the federal alternative minimum tax and, although not anticipated, in securities that pay taxable interest.</p><p>The Fund only buys municipal securities rated, at the time of purchase, in one of the top four ratings categories by one or more U.S. nationally recognized rating services (or comparable unrated or short-term rated securities).</p><p>The Fund also may invest up to 35% of its total assets in municipal securities issued by U.S. territories.</p><p>Although the investment manager will search for investments across a large number of municipal securities that finance different types of projects, from time to time, based on economic conditions, the Fund may have significant positions in municipal securities that finance similar types of projects.</p><p>The investment manager selects securities that it believes will provide the best balance between risk and return within the Fund&#146;s range of allowable investments and typically uses a buy and hold strategy. This means it generally holds securities in the Fund&#146;s portfolio for income purposes, rather than trading securities for capital gains, although the investment manager may sell a security at any time if it believes it could help the Fund meet its goal.</p></div>Principal Risks<div><p>You could lose money by investing in the Fund. Mutual fund shares are not deposits or obligations of, or guaranteed or endorsed by, any bank, and are not insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency of the U.S. government.</p><p>Interest Rate</p><p>When interest rates rise, debt security prices generally fall. The opposite is also generally true: debt security prices rise when interest rates fall. In general, securities with longer maturities are more sensitive to these interest rate changes.</p><p>Market</p><p>The market values of securities owned by the Fund will go up or down, sometimes rapidly or unpredictably. A security&#146;s market value may be reduced by market activity or other results of supply and demand unrelated to the issuer. This is a basic risk associated with all securities. When there are more sellers than buyers, prices tend to fall. Likewise, when there are more buyers than sellers, prices tend to rise.</p><p>Credit</p><p>An issuer of debt securities may fail to make interest payments and repay principal when due, in whole or in part. Changes in an issuer's financial strength or in a security's credit rating may affect a security's value.</p><p>A change in the credit rating of a municipal bond insurer that insures securities in the Fund&#146;s portfolio may affect the value of the securities it insures, the Fund&#146;s share price and Fund performance. The Fund might also be adversely impacted by the inability of an insurer to meet its insurance obligations.</p><p>Bond Insurers</p><p>Market conditions or changes to ratings criteria could continue to adversely impact the ratings of municipal bond insurance companies. Downgrades and withdrawal of ratings from municipal bond insurers have substantially limited the availability of insurance sought by municipal bond issuers thereby reducing the supply of insured municipal securities.</p><p>Recent market conditions have led to a consolidation among municipal bond insurers that may lead to a concentration of insurance company credit risk among fewer insurers.</p><p>New York and U.S. Territories</p><p>Because the Fund invests primarily in New York municipal securities, events in New York are likely to affect the Fund&#146;s investments and its performance. These events may include economic or political policy changes, tax base erosion, state constitutional limits on tax increases, budget deficits and other financial difficulties, and changes in the credit rating assigned to New York&#146;s municipal insurers. As with New York municipal securities, events in any of the territories where the Fund is invested may affect the Fund&#146;s investments and its performance.</p><p>Focus</p><p>The Fund may invest more than 25% of its assets in municipal securities that finance similar types of projects, such as utilities, hospitals, higher education, transportation and real estate. A change that affects one project, such as proposed legislation on the financing of the project, a shortage of the materials needed for the project, or a declining need for the project, would likely affect all similar projects, thereby increasing market risk.</p><p>Tax-Exempt Securities</p><p>While the Fund endeavors to purchase only bona fide tax-exempt securities, there are risks that: (a) a security issued as tax-exempt may be reclassified as taxable by the Internal Revenue Service or a state tax authority, and/or (b) future legislative, administrative or court actions could adversely impact the qualification of income from a tax-exempt security as tax-free. Such reclassifications or actions could cause interest from a security to become taxable, possibly retroactively, subjecting you to increased tax liability.</p><p>Income</p><p>Because the Fund can only distribute what it earns, the Fund's distributions to shareholders may decline when prevailing interest rates fall or when the Fund experiences defaults on debt securities it holds.</p><p>Prepayment</p><p>Prepayment risk occurs when a debt security can be repaid in whole or in part prior to the security's maturity and the Fund must reinvest the proceeds it receives, during periods of declining interest rates, in securities that pay a lower rate of interest.</p><p>Management</p><p>The Fund is subject to management risk because it is an actively managed investment portfolio. The Fund's investment manager applies investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that these decisions will produce the desired results.</p></div>PerformanceThe following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund's performance from year to year for Class A shares. The table shows how the Fund's average annual returns for 1 year, 5 years, 10 years or since inception, as applicable, compared with those of a broad measure of market performance.The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.(800) DIAL BEN/342-5236franklintempleton.comSales charges are not reflected in the bar chart, and if those charges were included, returns would be less than those shown.<div><p>The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund's performance from year to year for Class A shares. The table shows how the Fund's average annual returns for 1 year, 5 years, 10 years or since inception, as applicable, compared with those of a broad measure of market performance. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. You can obtain updated performance information at franklintempleton.com or by calling (800) DIAL BEN/342-5236.</p><p>Sales charges are not reflected in the bar chart, and if those charges were included, returns would be less than those shown.</p></div>CLASS A ANNUAL TOTAL RETURNS0.09110.04860.04220.03800.04260.0312-0.03210.13270.00860.1001~ http://xbrl.sec.gov/rr/role/BarChartData column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact fnytfif_S000006862Member ~Best Quarter:2009-09-300.0660Worst Quarter:2010-12-31-0.0518As of June 30, 2012, the Fund's year-to-date return was 3.80%.<table style="font: 11px sans-serif; background-color:#DDDDDD" border="0" cellspacing="0" cellpadding="5" width="745"><tr><td style="border-bottom: 2px solid #ffffff;" valign="top">Best Quarter:</td><td style="border-bottom: 2px solid #ffffff;" valign="bottom" align="right">Q3'09</td><td style="border-bottom: 2px solid #ffffff;" valign="bottom" align="right">6.60%</td></tr><tr><td style="border-bottom: 2px solid #ffffff;" valign="top">Worst Quarter:</td><td style="border-bottom: 2px solid #ffffff;" valign="bottom" align="right">Q4'10</td><td style="border-bottom: 2px solid #ffffff;" valign="bottom" align="right">-5.18%</td></tr><tr><td style="border-bottom: 2px solid #ffffff;" valign="top" colspan="3">As of June 30, 2012, the Fund's year-to-date return was 3.80%.</td></tr></table><div><p>AVERAGE ANNUAL TOTAL RETURNS<br/>(figures reflect sales charges)</p><p>For the periods ended December 31, 2011</p></div>~ http://xbrl.sec.gov/rr/role/PerformanceTableData column dei_LegalEntityAxis compact fnytfif_S000006862Member column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~Return Before Taxes0.05320.03720.04480.05320.03690.04470.04940.03780.04470.05390.03720.04460.08420.04060.04350.10110.04750.05020.10700.05220.0538<div><p>Historical performance for Advisor Class shares prior to their inception is based on the performance of Class A shares. Advisor Class performance has been adjusted to reflect differences in sales charges between classes.</p><p>The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns are shown only for Class A and after-tax returns for other classes will vary.</p></div>New or additional investments into Class B are no longer permitted.