T. Rowe Price Tax-Free Income Fund (PRTAX)
Ticker Symbol:
PRTAX
Fund Status:
Open to new Retail investors  /  Open to subsequent Retail investments
Fund Objective
Quick Stats
Fiscal Year End  February
Morningstar Category  Muni National Long
Inception Date 10/26/1976
Tax ID 52-1067817
Investment Objective
The fund's objective is to seek a high level of income exempt from federal income taxes by investing primarily in long-term, investment-grade municipal securities.
Strategy
Invests primarily in long-term, investment-grade municipal securities; the fund’s weighted average maturity is expected to exceed 10 years.
Investor Profile
Investors whose income tax level enables them to benefit from tax-exempt income. Not appropriate for tax-deferred retirement plans, such as IRAs. Some income may be subject to state and local taxes.
Availability
All States
Risk/Reward Potential*
Click on the risk/reward spectrum below to view the funds in that category
Highest
Higher
Moderate
Lower
Lowest
Moderately aggressive investors have the opportunity for an attractive level of federal tax-free income through this investment-grade bond fund. The fund’s focus on longer-term bonds means it offers higher income potential than shorter-term, federal tax-free funds but with greater price volatility.

Yield and share price will vary with interest rate changes. Investors should note that if interest rates rise significantly from current levels, bond fund total returns will decline and may even turn negative in the short term. There is also a chance that one of the fund’s holdings will have its credit rating downgraded or will default.
*Funds are placed in general risk/return categories based on their past performance or, for newer funds, the performance of the types of securities in which they invest. There is no assurance past trends will continue.
See Glossary for additional details on all data elements.