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        <name>Allentown Neighborhood Improvement Zone Development Authority</name>
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        <name>American Municipal Power, Inc.</name>
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        <name>Arizona Health Facilities Authority</name>
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        <name>Arizona Industrial Development Authority</name>
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        <name>Arkansas Development Finance Authority</name>
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          <isin value="US04084EAA82"/>
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      <invstOrSec>
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          <isin value="US04109FCC05"/>
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        <name>Arkansas Development Finance Authority</name>
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        <name>Atlanta Development Authority (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Atlanta GA Department of Aviation</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
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        <name>City of Austin TX Airport System Revenue</name>
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        <name>Austin Housing Finance Corp.</name>
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        <name>Babcock Ranch Community Independent Special District</name>
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        <name>Black Belt Energy Gas District</name>
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        <name>Black Belt Energy Gas District</name>
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        <name>Black Belt Energy Gas District</name>
        <lei>549300I8V0Z68JQCB679</lei>
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      <invstOrSec>
        <name>Black Belt Energy Gas District</name>
        <lei>549300I8V0Z68JQCB679</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Chester County Industrial Development Authority</name>
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        <name>Town of Chestertown MD</name>
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        <name>City of Chicago IL</name>
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        <name>City of Chicago IL</name>
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        <name>Chicago Park District</name>
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        <name>Citizens Memorial Hospital District</name>
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        <name>Cleveland Department of Public Utilities Division of Public Power</name>
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        <name>Cobb-Marietta Coliseum &amp; Exhibit Hall Authority</name>
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        <name>Downtown Revitalization Public Infrastructure District</name>
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        <name>Florida Development Finance Corp.</name>
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        <name>Forney Independent School District</name>
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        <name>Garden State Preservation Trust</name>
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        <name>Guam Government Waterworks Authority</name>
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        <name>Halifax Hospital Medical Center</name>
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        <name>City of Houston TX Combined Utility System Revenue</name>
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        <name>Iowa Higher Education Loan Authority</name>
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        <name>Jacksonville Transportation Authority</name>
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        <name>County of Jefferson AL Sewer Revenue</name>
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        <name>Jersey City Municipal Utilities Authority</name>
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        <name>Kentucky Municipal Energy Agency</name>
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        <name>Lee County Industrial Development Authority/FL</name>
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        <name>Lee County Housing Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lehigh County Industrial Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Leomas Landing Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Long Beach Bond Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Los Angeles CA</name>
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        <name>Louisiana Local Government Environmental Facilities &amp; Community Development Auth</name>
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        <name>Louisiana Public Facilities Authority</name>
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        <name>Louisiana Offshore Terminal Authority</name>
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        <name>City of Lowry Crossing TX</name>
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        <name>Main Street Natural Gas, Inc.</name>
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        <invCountry>US</invCountry>
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        <name>Metropolitan Washington Airports Authority Aviation Revenue</name>
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        <name>Michigan Finance Authority</name>
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        <name>Michigan Strategic Fund</name>
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        <name>Montgomery County Industrial Development Authority/PA</name>
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        <name>New Jersey Economic Development Authority</name>
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        <name>Puerto Rico Industrial Tourist Educational Medical &amp; Environmental Control Facilities Financing Authority</name>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <name>St. Johns County Housing Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Salt Lake City UT Airport Revenue</name>
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          <isin value="US795576LJ47"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>San Antonio Independent School District/TX</name>
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        <fairValLevel>2</fairValLevel>
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          <isin value="US800766LV72"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Santa Fe NM</name>
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        <curCd>USD</curCd>
        <valUSD>3734146.93000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-12-10</maturityDt>
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          <annualizedRt>3.29000000</annualizedRt>
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      <invstOrSec>
        <name>Shingle Creek at Bronson Community Development District</name>
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          <isin value="US82459NAB91"/>
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        <curCd>USD</curCd>
        <valUSD>500239.80000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.10000000</annualizedRt>
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      <invstOrSec>
        <name>Sierra View Local Health Care District</name>
        <lei>N/A</lei>
        <title>Sierra View Local Health Care District, Series 2020</title>
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          <isin value="US82650PDG72"/>
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        <valUSD>240949.87000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>South Carolina Public Service Authority</name>
        <lei>EMBXY64GWKA9MZGFUD26</lei>
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          <isin value="US8371513K35"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-01</maturityDt>
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        <name>South Carolina Public Service Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-01</maturityDt>
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        <name>South Carolina Public Service Authority</name>
        <lei>EMBXY64GWKA9MZGFUD26</lei>
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          <isin value="US8371513M90"/>
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        <balance>500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>South Carolina Public Service Authority</name>
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          <isin value="US8371513N73"/>
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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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      <invstOrSec>
        <name>South Creek Community Development District</name>
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        <name>South Dakota Health &amp; Educational Facilities Authority</name>
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        <name>Southern Ute Indian Tribe of the Southern Ute Reservation of Colorado</name>
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        <name>Spokane County School District No. 354 Mead</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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          <isin value="US848780SW34"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Storey Park Community Development District</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
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        <name>County of Suffolk NY</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Tarrant County Cultural Education Facilities Finance Corp.</name>
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        <name>Tennergy Corp.</name>
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        <name>Tennessee Energy Acquisition Corp.</name>
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        <name>State of Tennessee</name>
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        <name>Texas Municipal Gas Acquisition &amp; Supply Corp. IV</name>
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        <name>Central Texas Turnpike System</name>
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        <name>Triborough Bridge &amp; Tunnel Authority</name>
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      <invstOrSec>
        <name>County of Trimble KY</name>
        <lei>N/A</lei>
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        <name>Virginia Small Business Financing Authority</name>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>City of Worcester</name>
        <lei>5493006DO0NOILRNNH68</lei>
        <title>City of Worcester</title>
        <cusip>981306R96</cusip>
        <identifiers>
          <isin value="US981306R963"/>
          <other otherDesc="Inhouse Asset ID" value="1561581"/>
        </identifiers>
        <balance>700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>700565.60000000</valUSD>
        <pctVal>0.079159376971</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-19</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>Youngstown State University</name>
        <lei>N/A</lei>
        <title>Youngstown State University, Series 2021</title>
        <cusip>987720EX3</cusip>
        <identifiers>
          <isin value="US987720EX38"/>
          <other otherDesc="Inhouse Asset ID" value="1150867"/>
        </identifiers>
        <balance>850000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>862234.31000000</valUSD>
        <pctVal>0.097426894473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-15</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>Philadelphia Gas Works Co.</name>
        <lei>549300H8UJ7V5WU5IA90</lei>
        <title>Philadelphia Gas Works Co., Series 16th A</title>
        <cusip>71783MBH7</cusip>
        <identifiers>
          <isin value="US71783MBH79"/>
          <other otherDesc="Inhouse Asset ID" value="1120242"/>
        </identifiers>
        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>606947.34000000</valUSD>
        <pctVal>0.068581119724</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</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>2026-03-30</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>
