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        <name>Tobacco Settlement Financing Corp.</name>
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        <name>Port Authority of New York &amp; New Jersey</name>
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      <invstOrSec>
        <name>Delaware River Joint Toll Bridge Commission</name>
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        <name>Camden County Improvement Authority (The)</name>
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      <invstOrSec>
        <name>New Jersey Housing &amp; Mortgage Finance Agency</name>
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      <invstOrSec>
        <name>New Jersey Infrastructure Bank</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>Casino Reinvestment Development Authority, Inc.</name>
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        <name>State of New Jersey</name>
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        <name>Capital Trust Agency, Inc.</name>
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      <invstOrSec>
        <name>Development Authority of Rockdale County</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-12-01</maturityDt>
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        <name>New Jersey Housing &amp; Mortgage Finance Agency</name>
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      <invstOrSec>
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          <isin value="US838530RD73"/>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Camden County Improvement Authority (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New Jersey Higher Education Student Assistance Authority</name>
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        <name>New Jersey Health Care Facilities Financing Authority</name>
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        <name>Casino Reinvestment Development Authority, Inc.</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>New Jersey Health Care Facilities Financing Authority</name>
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        <name>New Jersey Turnpike Authority</name>
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      <invstOrSec>
        <name>Antonio B Won Pat International Airport Authority</name>
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        <name>Passaic County Improvement Authority (The)</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>New Jersey Educational Facilities Authority</name>
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        <name>Essex County Improvement Authority</name>
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        <name>New Jersey Infrastructure Bank</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New Jersey Housing &amp; Mortgage Finance Agency</name>
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        <name>Public Finance Authority</name>
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        <name>Guam Government Waterworks Authority</name>
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        <name>New Brunswick Parking Authority</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
        <lei>549300YUVD5TEXR6L889</lei>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>New Jersey Turnpike Authority</name>
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        <name>Camden County Improvement Authority (The)</name>
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        <name>Atlantic County Improvement Authority (The)</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>Public Finance Authority</name>
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        <name>New Jersey Higher Education Student Assistance Authority</name>
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        <name>New Jersey Health Care Facilities Financing Authority</name>
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        <name>Gloucester County Improvement Authority (The)</name>
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        <name>New Jersey Educational Facilities Authority</name>
        <lei>549300UTOO4X537XXG70</lei>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isin value="US29681CBH07"/>
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          <maturityDt>2056-06-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Jersey City Municipal Utilities Authority</name>
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          <isin value="US476624DN81"/>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Gloucester County Improvement Authority (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New Jersey Educational Facilities Authority</name>
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          <isin value="US646066MA54"/>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-12-01</maturityDt>
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        <name>Public Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-12-01</maturityDt>
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        <fairValLevel>2</fairValLevel>
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        <name>Cumberland County Improvement Authority (The)</name>
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        <name>New Jersey Institute of Technology/NJ</name>
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        <name>Jersey City Municipal Utilities Authority</name>
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        <name>New Jersey Educational Facilities Authority</name>
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        <name>Capital Trust Authority</name>
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        <name>Port Authority of New York &amp; New Jersey</name>
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      <invstOrSec>
        <name>New Jersey Turnpike Authority</name>
        <lei>5493005YN67D71KSMI84</lei>
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        <name>City of Newark NJ Mass Transit Access Tax Revenue</name>
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        <name>Delaware River Port Authority</name>
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        <name>New Jersey Institute of Technology/NJ</name>
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        <name>Camden County Improvement Authority (The)</name>
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        <name>New Jersey Health Care Facilities Financing Authority</name>
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          <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>New Jersey Educational Facilities Authority</name>
        <lei>549300UTOO4X537XXG70</lei>
        <title>New Jersey Educational Facilities Authority, Series 2023 A</title>
        <cusip>646067FW3</cusip>
        <identifiers>
          <isin value="US646067FW31"/>
          <other otherDesc="Inhouse Asset ID" value="1298935"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2029858.40000000</valUSD>
        <pctVal>0.247789423220</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-09-01</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>New Jersey Turnpike Authority</name>
        <lei>5493005YN67D71KSMI84</lei>
        <title>New Jersey Turnpike Authority, Series 2021 A</title>
        <cusip>646140DK6</cusip>
        <identifiers>
          <isin value="US646140DK61"/>
          <other otherDesc="Inhouse Asset ID" value="1131158"/>
        </identifiers>
        <balance>4010000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3459811.96000000</valUSD>
        <pctVal>0.422347100674</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-01-01</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>New Jersey Health Care Facilities Financing Authority</name>
        <lei>N/A</lei>
        <title>New Jersey Health Care Facilities Financing Authority, Series 2008 A</title>
        <cusip>645790ED4</cusip>
        <identifiers>
          <isin value="US645790ED49"/>
          <other otherDesc="Inhouse Asset ID" value="648219"/>
        </identifiers>
        <balance>85000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>85092.03000000</valUSD>
        <pctVal>0.010387377284</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</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>Guam Power Authority</name>
        <lei>549300IPOV320QCKW060</lei>
        <title>Guam Power Authority, Series 2024 A</title>
        <cusip>400653LA7</cusip>
        <identifiers>
          <isin value="US400653LA72"/>
          <other otherDesc="Inhouse Asset ID" value="1374643"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>522777.65000000</valUSD>
        <pctVal>0.063816654583</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>GU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-10-01</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>
    </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>2025-09-30</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>
