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        <name>Massachusetts Clean Water Trust (The)</name>
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        <name>New York Transportation Development Corp.</name>
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        <name>Cobb County Kennestone Hospital Authority</name>
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        <name>Connecticut State Health &amp; Educational Facilities Authority</name>
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        <name>Troy Capital Resource Corp.</name>
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        <name>Cobb County Kennestone Hospital Authority</name>
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        <name>Abilene Convention Center Hotel Development Corp.</name>
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        <name>Washington Health Care Facilities Authority</name>
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        <name>Long Island Power Authority</name>
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        <name>Lancaster County Solid Waste Management Authority</name>
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        <name>Arizona Industrial Development Authority</name>
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        <name>Ector County Hospital District</name>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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        <name>Rutgers The State University of New Jersey</name>
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        <name>Delaware Valley Regional Finance Authority</name>
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        <name>Fort Carson Family Housing LLC</name>
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          <maturityDt>2029-11-15</maturityDt>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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          <maturityDt>2022-12-15</maturityDt>
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        <name>City of New York NY</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Indiana Finance Authority</name>
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          <isin value="US45506EEL39"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Capital Projects Finance Authority</name>
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          <isin value="US140427BL86"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Chicago IL</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Colorado Health Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Illinois Sales Tax Revenue</name>
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          <maturityDt>2027-06-15</maturityDt>
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        <name>New York City Transitional Finance Authority Future Tax Secured Revenue</name>
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        <name>Pennsylvania Economic Development Financing Authority</name>
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        <name>San Antonio Education Facilities Corp.</name>
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        <name>Lee Memorial Health System</name>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
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        <name>Washington Health Care Facilities Authority</name>
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        <name>Arizona Industrial Development Authority</name>
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        <name>Michigan Strategic Fund</name>
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        <name>Troy Capital Resource Corp.</name>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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        <name>New York City Transitional Finance Authority Future Tax Secured Revenue</name>
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        <name>Massachusetts Port Authority</name>
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        <name>City of South Miami Health Facilities Authority, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of Palm Beach FL Water &amp; Sewer Revenue</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Arizona Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Arizona Industrial Development Authority</title>
        <cusip>04052FAM7</cusip>
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          <isin value="US04052FAM77"/>
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        <balance>630000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Southeast Missouri State University</name>
        <lei>N/A</lei>
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          <isin value="US841438MC50"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-04-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Cook IL Sales Tax Revenue</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-11-15</maturityDt>
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        <name>North Carolina State Education Assistance Authority</name>
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          <maturityDt>2025-06-01</maturityDt>
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        <name>Texas Municipal Gas Acquisition &amp; Supply Corp. III</name>
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        <invCountry>US</invCountry>
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        <name>Port Authority of New York &amp; New Jersey</name>
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        <name>Tennessee Energy Acquisition Corp.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Illinois Finance Authority</name>
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        <name>Broward County FL Water &amp; Sewer Utility Revenue</name>
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        <name>Chicago O'Hare International Airport</name>
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        <name>Los Angeles Department of Water &amp; Power Power System Revenue</name>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>City of Phoenix Civic Improvement Corp.</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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          <maturityDt>2036-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>City of Memphis TN</name>
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        <name>Franklin Liberty Federal Tax-Free Bond ETF</name>
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        <name>Arizona Industrial Development Authority</name>
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        <name>Massachusetts Clean Energy Cooperative Corp.</name>
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        <name>Louisiana Public Facilities Authority</name>
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        <name>Bay Area Toll Authority</name>
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        <name>Kent State University</name>
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        <name>County of King WA Sewer Revenue</name>
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        <name>Harris County Toll Road Authority (The)</name>
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        <name>JEA Water &amp; Sewer System Revenue</name>
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        <name>Glendale Industrial Development Authority</name>
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        <name>Puerto Rico Industrial Tourist Educational Medical &amp; Envirml Ctl Facs Fing Auth</name>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Northwest Independent School District</name>
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        <name>Michigan Finance Authority</name>
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        <name>Louisiana Local Government Environmental Facilities &amp; Community Development Auth</name>
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        <name>Indiana Finance Authority</name>
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        <name>New York Liberty Development Corp.</name>
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          <maturityDt>2040-08-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>New Jersey Economic Development Authority</name>
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          <maturityDt>2029-02-15</maturityDt>
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        <name>Texas Transportation Commission State Highway Fund</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-04-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Dallas/Fort Worth International Airport</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>South Carolina Public Service Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-12-01</maturityDt>
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        <name>JEA Water &amp; Sewer System Revenue</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-01</maturityDt>
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        <name>Connecticut State Health &amp; Educational Facilities Authority</name>
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        <name>Pennsylvania State University (The)</name>
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        <name>Maine Health &amp; Higher Educational Facilities Authority</name>
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        <name>Iowa Higher Education Loan Authority</name>
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          <isin value="US67756CEX20"/>
          <other otherDesc="Inhouse Asset ID" value="1105418"/>
        </identifiers>
        <balance>905000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1043687.27000000</valUSD>
        <pctVal>0.027035325636</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>2021-12-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Franklin Tax Free Trust</ncom:nameOfApplicant>
      <ncom:signature>Jeffrey W. White </ncom:signature>
      <ncom:signerName>Jeffrey W. White </ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
