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        <name>Puerto Rico Industrial Tourist Educational Medical &amp; Envirml Ctl Facs Fing Auth</name>
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      <invstOrSec>
        <name>City of Salt Lake City UT Airport Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TBG Hillcrest Senior II LP</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Las Vegas Valley Water District</name>
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        <name>Centennial Gardens LP</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Virginia Small Business Financing Authority</name>
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        <name>Indiana Finance Authority</name>
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        <name>Central Texas Turnpike System</name>
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        <name>University of Illinois</name>
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        <name>Massachusetts Development Finance Agency</name>
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        <name>Nebraska Public Power District</name>
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        <name>Auburn School District No. 408 of King &amp; Pierce Counties</name>
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        <name>Virginia Small Business Financing Authority</name>
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        <name>Main Street Natural Gas, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-12-01</maturityDt>
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        <name>Pennsylvania Economic Development Financing Authority</name>
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          <isin value="US708692BV94"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-04-01</maturityDt>
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        <name>Albemarle County Economic Development Authority</name>
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        <name>Eastern Kentucky University</name>
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        <name>North Carolina Capital Facilities Finance Agency</name>
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        <name>Allentown Neighborhood Improvement Zone Development Authority</name>
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        <name>Philadelphia Gas Works Co.</name>
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        <name>Louisiana Stadium &amp; Exposition District</name>
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        <name>Pennsylvania Economic Development Financing Authority</name>
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        <name>Eastern Kentucky University</name>
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        <name>Garden State Preservation Trust</name>
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        <name>Delaware State Economic Development Authority</name>
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        <name>New York Transportation Development Corp.</name>
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        <name>Private Colleges &amp; Universities Authority</name>
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        <name>River Hall Community Development District</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>North Carolina Capital Facilities Finance Agency</name>
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        <name>Minnesota Higher Education Facilities Authority</name>
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        <name>New Jersey Economic Development Authority</name>
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        <name>Tennessee Energy Acquisition Corp.</name>
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        <name>Fort Carson Family Housing LLC</name>
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        <name>Virginia Small Business Financing Authority</name>
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        <name>City of Chicago IL</name>
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        <name>Westside 211 Special Improvement District</name>
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        <name>North Carolina State University at Raleigh</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Buckeye Tobacco Settlement Financing Authority</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Michigan Strategic Fund</name>
        <lei>N/A</lei>
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          <isin value="US594698EH14"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
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          <isin value="US57584X7D71"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>South Carolina Public Service Authority</name>
        <lei>EMBXY64GWKA9MZGFUD26</lei>
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          <isin value="US837151YB92"/>
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        <balance>1750000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Private Colleges &amp; Universities Authority</name>
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          <isin value="US74265LW209"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Virginia Small Business Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US928104NE48"/>
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        <curCd>USD</curCd>
        <valUSD>185457.51000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Arizona Industrial Development Authority</name>
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          <isin value="US04052BQZ03"/>
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        <balance>450000.00000000</balance>
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        <valUSD>427311.90000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-07-01</maturityDt>
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          <annualizedRt>1.80000000</annualizedRt>
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      <invstOrSec>
        <name>Pennsylvania Economic Development Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US70870JAN81"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>California Community Choice Financing Authority</name>
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          <isin value="US13013JAA43"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Utah Infrastructure Agency</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-10-15</maturityDt>
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        <name>Minnesota Municipal Gas Agency</name>
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        <fairValLevel>2</fairValLevel>
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        <name>State of Washington</name>
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          <maturityDt>2028-07-01</maturityDt>
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        <name>San Diego County Regional Airport Authority</name>
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          <maturityDt>2023-03-01</maturityDt>
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        <name>Allentown Neighborhood Improvement Zone Development Authority</name>
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        <name>City of Chicago IL</name>
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        <name>Westmoreland County Municipal Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Health Facilities Financing Authority</name>
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        <name>City of Memphis TN</name>
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        <name>North Carolina Capital Facilities Finance Agency</name>
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        <name>New Jersey Economic Development Authority</name>
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        <name>Texas Water Development Board</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-01</maturityDt>
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        <fairValLevel>2</fairValLevel>
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        <name>Oklahoma Capitol Improvement Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Geisinger Authority</name>
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        <name>North Carolina Medical Care Commission</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Leon County Housing Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2057-05-01</maturityDt>
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        <name>Black Belt Energy Gas District</name>
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          <isin value="US09182NAW02"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-12-01</maturityDt>
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        <name>Missouri Development Finance Board</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-03-01</maturityDt>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Southeast Energy Authority A Cooperative District</name>
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        <name>Mississippi Business Finance Corp.</name>
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        <name>Des Moines Independent Community School District</name>
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        <name>Energy Northwest</name>
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        <name>Ohio Air Quality Development Authority</name>
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        <name>Main Street Natural Gas, Inc.</name>
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        <name>Arizona Industrial Development Authority</name>
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        <name>Mississippi Home Corp.</name>
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        <name>Indiana Finance Authority</name>
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        <name>Oklahoma State University</name>
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        <name>Youngstown State University</name>
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        <name>Indiana Finance Authority</name>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>992960.10000000</valUSD>
        <pctVal>0.076133544211</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-15</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>
      <invstOrSec>
        <name>New York City Industrial Development Agency</name>
        <lei>549300XR20ZR5DHL9534</lei>
        <title>New York City Industrial Development Agency</title>
        <cusip>64971PKS3</cusip>
        <identifiers>
          <isin value="US64971PKS38"/>
          <other otherDesc="Inhouse Asset ID" value="1134022"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1045622.30000000</valUSD>
        <pctVal>0.080171329750</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-01</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>Private Colleges &amp; Universities Authority</name>
        <lei>N/A</lei>
        <title>Private Colleges &amp; Universities Authority</title>
        <cusip>74265LV88</cusip>
        <identifiers>
          <isin value="US74265LV888"/>
          <other otherDesc="Inhouse Asset ID" value="1152245"/>
        </identifiers>
        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>303346.53000000</valUSD>
        <pctVal>0.023258584562</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-10-01</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>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>California Community Choice Financing Authority</title>
        <cusip>13013JAF3</cusip>
        <identifiers>
          <isin value="US13013JAF30"/>
          <other otherDesc="Inhouse Asset ID" value="1163465"/>
        </identifiers>
        <balance>375000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>395034.53000000</valUSD>
        <pctVal>0.030288607623</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</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>Auburn School District No. 408 of King &amp; Pierce Counties</name>
        <lei>N/A</lei>
        <title>Auburn School District No. 408 of King &amp; Pierce Counties</title>
        <cusip>494619EH8</cusip>
        <identifiers>
          <isin value="US494619EH88"/>
          <other otherDesc="Inhouse Asset ID" value="921938"/>
        </identifiers>
        <balance>1700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1942476.61000000</valUSD>
        <pctVal>0.148936124289</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</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>
    </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>2022-06-30</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>
