T. Rowe Price California Tax-Free Bond Fund (PRXCX)
Ticker Symbol:
PRXCX
Fund Status:
Open to new Retail investors  /  Open to subsequent Retail investments
Fund Objective
Quick Stats
Fiscal Year End  February
Morningstar Category  Muni California Long
Inception Date 09/15/1986
Tax ID 52-1479525
Investment Objective
To provide, consistent with prudent portfolio management, the highest level of income exempt from federal and California state income taxes.
Strategy
Invests at least 80% of its net assets in California municipals. Dollar-weighted average maturity is expected to exceed 10 years.
Investor Profile
California taxpayers who, because of their tax bracket, can benefit from income that is exempt from federal and California 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-California residents will be subject to applicable state and local taxes.
Availability
AZ, CA, DC, FL, HI, MD, NJ, NV, OR, WY
Risk/Reward Potential*
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Moderate
Lower
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The California Tax-Free Bond Fund offers investors income that is double-tax-free. The fund is expected to provide higher income than the T. Rowe Price California Tax-Free Money Fund, with more share 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 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.