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  • T. Rowe Price Virginia Tax-Free Bond Fund (PRVAX)
    Ticker Symbol:
    PRVAX
    Fund Status:
    Open to new Retail investors  /  Open to subsequent Retail investments
    Fund Objective
    Quick Stats
    Fiscal Year End  February
    Morningstar Category  Muni Single State Long
    Inception Date 04/30/1991
    Tax ID 52-6483300
    Investment Objective
    The fund seeks to provide, consistent with prudent portfolio management, the highest level of income exempt from federal and Virginia state income taxes by investing primarily in investment-grade Virginia municipal bonds.
    Strategy
    Invests at least 80% of net assets in Virginia municipal bonds. The fund's weighted average maturity is expected to exceed 10 years.
    Investor Profile
    Virginia taxpayers who, because of their tax bracket, can benefit from federal and Virginia state income taxes. Not appropriate for tax-deferred retirement plans, such as IRAs. Some income may be subject to the federal alternative minimum tax. Income earned by non-Virginia residents will be subject to applicable state and local taxes.
    Availability
    DC, FL, GA, HI, IL, MD, NC, NJ, PA, VA, WY
    Risk/Reward Potential*
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    The Virginia Tax-Free Bond Fund offers Virginia investors double-tax-free income. The fund focuses on long-term securities that provide higher yields than less volatile, shorter-term bonds. Assets are concentrated primarily in investment-grade Virginia municipal bonds to help reduce credit risk.

    Yield and share price will vary with changes in interest rates and market conditions. 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 some of the fund's holdings may have their credit rating downgraded or may default. The fund is less diversified than one investing nationally.
    *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.