T. Rowe Price Tax-Free Income Fd
PRTAX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 100 East Pratt Street Baltimore MD United States of America 21202
- IPO Date
- Jan 2, 1980
- CIK
- 0000202927
- Website
- troweprice.com
- Similar Companies
- Business
- T. Rowe Price Tax-Free Income Fund (PRTAX) is an open-end mutual fund that seeks a high level of income exempt from federal income taxes by investing primarily in long-term, investment-grade municipal securities; it maintains a portfolio with a weighted average maturity greater than 15 years, emphasizes broad geographic and sector diversification, and focuses on high-quality bonds while historically avoiding alternative minimum tax (AMT) bonds. The fund's portfolio consists predominantly of US municipal tax-exempt bonds (approximately 97.84%), supplemented by non-US bonds, cash equivalents, and minimal municipal taxable securities; top holdings include obligations such as New York State Thruway Authority General Revenue Junior Indebtedness Obligations, North Carolina Turnpike Authority Revenue, Puerto Rico Sales Tax Financing Corporation Sales Tax Revenue, and various airport and hospital authority revenues. Managed within the Muni National Long category, the fund targets individual and institutional investors seeking tax-efficient fixed income exposure, with total net assets of approximately $2.20 billion, a net expense ratio of 0.41%, and daily pricing. Launched on October 26, 1976, the fund is domiciled in the United States and available for sale primarily to US investors through T. Rowe Price Group, Inc., a global investment management firm founded in 1937 and headquartered in Baltimore, Maryland. In recent developments, portfolio management transitioned effective May 1, 2025, with Austin Applegate joining Timothy Taylor (lead manager since January 2023) as co-portfolio manager, reflecting the firm's team-based approach without anticipated material impact on strategy; this change aligns with ongoing enhancements to T. Rowe Price's municipal bond offerings amid broader company initiatives, including a September 2025 strategic collaboration with Goldman Sachs to expand public-private market products and a February 2025 partnership involving OHA and Aspida for asset management and product development in insurance-related areas.