# EDGAR Filing Document

**Accession Number:** 0000773478
**File Stem:** 0001133228-26-002528
**Filing Date:** 2026-2
**Character Count:** 158334
**Document Hash:** 24f0ff755dbc71e9241560f02f9d0e7d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001133228-26-002528.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001133228-26-002528

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 29

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**EFFECTIVENESS DATE**: 20260227

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Franklin California Tax Free Trust
- **CENTRAL INDEX KEY:** 0000773478

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04356
- **FILM NUMBER:** 26696445

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906
- **BUSINESS PHONE:** 650-312-2000

**MAIL ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN CALIFORNIA TAX FREE TRUST
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### FRANKLIN CALIFORNIA INTERMEDIATE-TERM TAX-FREE INCOME FUND (Series ID: S000006719)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018281 | Class A1      | FKCIX           |
| C000018282 | Class C       | FCCIX           |
| C000073519 | Advisor Class | FRCZX           |
| C000194407 | Class R6      | FCCRX           |
| C000198605 | Class A       | FCCQX           |

?xml version='1.0' encoding='ASCII'? 2026-01-1474200001100_FranklinCaliforniaIntermediate-TermTax-FreeIncomeFund_ClassA_TSRSemiAnnual

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

**FORM N-CSR**

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number **811-04356**

**Franklin California Tax-Free Trust**

(Exact name of registrant as specified in charter)

**One Franklin Parkway, San Mateo, CA 94403-1906**

(Address of principal executive offices) (Zip code)

Alison Baur

Franklin Templeton

One Franklin Parkway

San Mateo, CA 94403-1906

(Name and address of agent for service)

Registrant's telephone number, including area code: **(650) 312-2000**

Date of fiscal year end: **June 30**

Date of reporting period: **December 31, 2025**

ITEM 1. REPORT TO STOCKHOLDERS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Report to Shareholders is filed herewith

---

| | |
|:---|:---|
| **Franklin California Intermediate-Term Tax-Free** **Income Fund**  | ![image](img2199_202405220716489.jpg) |
| Class A [FCCQX] | ![image](img2199_202405220716489.jpg) |
| Semi-Annual Shareholder Report \| December 31, 2025  | ![image](img2199_202405220716489.jpg) |
| ![image](img2195_202408190904545.jpg) | ![image](img2195_202408190904545.jpg) |

---

This semi-annual shareholder report contains important information about Franklin California Intermediate-Term Tax-Free Income Fund for the period July 1, 2025, to December 31, 2025.

You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) DIAL BEN/342-5236.

**WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of a** **$10,000 investment**<sup>\*</sup><sup>,</sup><sup>†</sup>  |
| Class A | $38 | 0.74% |

---

\* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

† Annualized.

**KEY FUND STATISTICS** (as of December 31, 2025)

---

| | |
|:---|:---|
| **Total Net Assets** | $1395665082 |
| **Total Number of Portfolio Holdings** | 467 |
| **Portfolio Turnover Rate** | 7.96% |

---

**WHAT DID THE FUND INVEST IN?** (as of December 31, 2025)

**Portfolio Composition**<sup>\*</sup> **(% of Total Investments)**

![image](ts6275img003.jpg)

\* Does not include derivatives, except purchased options, if any.

---

| | |
|:---|:---|
| ![image](img11308_202405310907293.jpg) | **WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?** |
| ![image](img11308_202405310907293.jpg) | Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its: |
| ![image](img11308_202405310907293.jpg) | • prospectus • proxy voting information • financial information • holdings • tax information |

---

Franklin California Intermediate-Term Tax-Free Income Fund PAGE 1 1152-STSR-0226

15.014.011.710.310.09.49.37.55.14.41.71.6 ------

---

| | |
|:---|:---|
| **Franklin California Intermediate-Term Tax-Free** **Income Fund**  | ![image](img2199_202405220716489.jpg) |
| Class A1 [FKCIX] | ![image](img2199_202405220716489.jpg) |
| Semi-Annual Shareholder Report \| December 31, 2025  | ![image](img2199_202405220716489.jpg) |
| ![image](img2195_202408190904545.jpg) | ![image](img2195_202408190904545.jpg) |

---

This semi-annual shareholder report contains important information about Franklin California Intermediate-Term Tax-Free Income Fund for the period July 1, 2025, to December 31, 2025.

You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) DIAL BEN/342-5236.

**WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of a** **$10,000 investment**<sup>\*</sup><sup>,</sup><sup>†</sup>  |
| Class A1 | $30 | 0.59% |

---

\* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

† Annualized.

**KEY FUND STATISTICS** (as of December 31, 2025)

---

| | |
|:---|:---|
| **Total Net Assets** | $1395665082 |
| **Total Number of Portfolio Holdings** | 467 |
| **Portfolio Turnover Rate** | 7.96% |

---

**WHAT DID THE FUND INVEST IN?** (as of December 31, 2025)

**Portfolio Composition**<sup>\*</sup> **(% of Total Investments)**

![image](ts6274img003.jpg)

\* Does not include derivatives, except purchased options, if any.

---

| | |
|:---|:---|
| ![image](img11308_202405310907293.jpg) | **WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?** |
| ![image](img11308_202405310907293.jpg) | Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its: |
| ![image](img11308_202405310907293.jpg) | • prospectus • proxy voting information • financial information • holdings • tax information |

---

Franklin California Intermediate-Term Tax-Free Income Fund PAGE 1 152-STSR-0226

15.014.011.710.310.09.49.37.55.14.41.71.6 ------

---

| | |
|:---|:---|
| **Franklin California Intermediate-Term Tax-Free** **Income Fund**  | ![image](img2199_202405220716489.jpg) |
| Class C [FCCIX] | ![image](img2199_202405220716489.jpg) |
| Semi-Annual Shareholder Report \| December 31, 2025  | ![image](img2199_202405220716489.jpg) |
| ![image](img2195_202408190904545.jpg) | ![image](img2195_202408190904545.jpg) |

---

This semi-annual shareholder report contains important information about Franklin California Intermediate-Term Tax-Free Income Fund for the period July 1, 2025, to December 31, 2025.

You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) DIAL BEN/342-5236.

**WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of a** **$10,000 investment**<sup>\*</sup><sup>,</sup><sup>†</sup>  |
| Class C | $58 | 1.14% |

---

\* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

† Annualized.

**KEY FUND STATISTICS** (as of December 31, 2025)

---

| | |
|:---|:---|
| **Total Net Assets** | $1395665082 |
| **Total Number of Portfolio Holdings** | 467 |
| **Portfolio Turnover Rate** | 7.96% |

---

**WHAT DID THE FUND INVEST IN?** (as of December 31, 2025)

**Portfolio Composition**<sup>\*</sup> **(% of Total Investments)**

![image](ts6277img003.jpg)

\* Does not include derivatives, except purchased options, if any.

---

| | |
|:---|:---|
| ![image](img11308_202405310907293.jpg) | **WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?** |
| ![image](img11308_202405310907293.jpg) | Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its: |
| ![image](img11308_202405310907293.jpg) | • prospectus • proxy voting information • financial information • holdings • tax information |

---

Franklin California Intermediate-Term Tax-Free Income Fund PAGE 1 252-STSR-0226

15.014.011.710.310.09.49.37.55.14.41.71.6 ------

---

| | |
|:---|:---|
| **Franklin California Intermediate-Term Tax-Free** **Income Fund**  | ![image](img2199_202405220716489.jpg) |
| Class R6 [FCCRX] | ![image](img2199_202405220716489.jpg) |
| Semi-Annual Shareholder Report \| December 31, 2025  | ![image](img2199_202405220716489.jpg) |
| ![image](img2195_202408190904545.jpg) | ![image](img2195_202408190904545.jpg) |

---

This semi-annual shareholder report contains important information about Franklin California Intermediate-Term Tax-Free Income Fund for the period July 1, 2025, to December 31, 2025.

You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) DIAL BEN/342-5236.

**WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of a** **$10,000 investment**<sup>\*</sup><sup>,</sup><sup>†</sup>  |
| Class R6 | $24 | 0.46% |

---

\* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

† Annualized.

**KEY FUND STATISTICS** (as of December 31, 2025)

---

| | |
|:---|:---|
| **Total Net Assets** | $1395665082 |
| **Total Number of Portfolio Holdings** | 467 |
| **Portfolio Turnover Rate** | 7.96% |

---

**WHAT DID THE FUND INVEST IN?** (as of December 31, 2025)

**Portfolio Composition**<sup>\*</sup> **(% of Total Investments)**

![image](ts6279img003.jpg)

\* Does not include derivatives, except purchased options, if any.

---

| | |
|:---|:---|
| ![image](img11308_202405310907293.jpg) | **WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?** |
| ![image](img11308_202405310907293.jpg) | Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its: |
| ![image](img11308_202405310907293.jpg) | • prospectus • proxy voting information • financial information • holdings • tax information |

---

Franklin California Intermediate-Term Tax-Free Income Fund PAGE 1 8152-STSR-0226

15.014.011.710.310.09.49.37.55.14.41.71.6 ------

---

| | |
|:---|:---|
| **Franklin California Intermediate-Term Tax-Free** **Income Fund**  | ![image](img2199_202405220716489.jpg) |
| Advisor Class [FRCZX] | ![image](img2199_202405220716489.jpg) |
| Semi-Annual Shareholder Report \| December 31, 2025  | ![image](img2199_202405220716489.jpg) |
| ![image](img2195_202408190904545.jpg) | ![image](img2195_202408190904545.jpg) |

---

This semi-annual shareholder report contains important information about Franklin California Intermediate-Term Tax-Free Income Fund for the period July 1, 2025, to December 31, 2025.

You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) DIAL BEN/342-5236.

**WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of a** **$10,000 investment**<sup>\*</sup><sup>,</sup><sup>†</sup>  |
| Advisor Class | $25 | 0.49% |

---

\* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

† Annualized.

**KEY FUND STATISTICS** (as of December 31, 2025)

---

| | |
|:---|:---|
| **Total Net Assets** | $1395665082 |
| **Total Number of Portfolio Holdings** | 467 |
| **Portfolio Turnover Rate** | 7.96% |

---

**WHAT DID THE FUND INVEST IN?** (as of December 31, 2025)

**Portfolio Composition**<sup>\*</sup> **(% of Total Investments)**

![image](ts6273img003.jpg)

\* Does not include derivatives, except purchased options, if any.

---

| | |
|:---|:---|
| ![image](img11308_202405310907293.jpg) | **WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?** |
| ![image](img11308_202405310907293.jpg) | Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its: |
| ![image](img11308_202405310907293.jpg) | • prospectus • proxy voting information • financial information • holdings • tax information |

---

Franklin California Intermediate-Term Tax-Free Income Fund PAGE 1 653-STSR-0226

15.014.011.710.310.09.49.37.55.14.41.71.6 ------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable

ITEM 2. CODE OF ETHICS.

Not applicable

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

Not applicable

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

Not applicable.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable*.*

ITEM 6. SCHEDULE OF INVESTMENTS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Please see schedule of investments contained in the Financial Statements and Financial
 Highlights included under Item 7 of this Form N-CSR.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable.

ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund

#### Financial

#### Statements

#### and

#### Other

#### Important

#### Information

#### Semi-annual
\|

December 31, 2025

#### Table

#### of

#### Contents
franklintempleton.com

Financial

Statements

and

Other

Important

Information—Semiannual

Financial

Highlights

and

Schedule

of

Investments

#### 2
Financial

Statements

#### 20
Notes

to

Financial

Statements

#### 24
Changes

In

and

Disagreements

with

Accountants

#### 31
Results

of

Meeting(s)

of

Shareholders

Remuneration

Paid

to

Directors,

Officers

and

Others

Board

Approval

of

Management

and

Subadvisory

Agreements

Franklin

California

Tax-Free

Trust

Financial

Highlights

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

#### Six

#### Months

#### Ended

#### December

#### 31,

#### 2025
(unaudited)

#### Year

#### Ended

#### June

#### 30,

#### 2025

#### 2024

#### 2023

#### 2022

#### 2021

#### Class

#### A

#### Per

#### share

#### operating

#### performance
(for

a

share

outstanding

throughout

the

period)

Net

asset

value,

beginning

of

period

.....

$10.79

$10.97

$10.94

$10.98

$12.16

$12.09

Income

from

investment

operations

a

:

Net

investment

income

b

.............

0.18 0.33 0.32 0.29 0.24 0.25 Net

realized

and

unrealized

gains

(losses)

0.23 (0.18)

0.03 (0.04)

(1.18)

0.07 Total

from

investment

operations

........

0.41 0.15 0.35 0.25 (0.94)

0.32 Less

distributions

from:

Net

investment

income

..............

(0.18)

(0.33)

(0.32)

(0.29)

(0.24)

(0.25)

Net

asset

value,

end

of

period

..........

$11.02

$10.79

$10.97

$10.94

$10.98

$12.16

Total

return

c

.......................

3.85%

1.39%

3.22%

2.28%

(7.84)%

2.68%

#### Ratios

#### to

#### average

#### net

#### assets

#### d
Expenses

before

waiver

and

payments

by

affiliates

..........................

0.82%

0.81%

0.82%

0.81%

0.81%

0.79%

Expenses

net

of

waiver

and

payments

by

affiliates

..........................

0.74%

0.74%

e

0.74%

e

0.74%

e

0.74%

e

0.74%

e

Net

investment

income

...............

3.31%

3.05%

2.92%

2.66%

2.05%

2.05%

#### Supplemental

#### data
Net

assets

,

end

of

period

(000's)

........

$458,936

$396,193

$374,818

$364,175

$339,459

$365,239

Portfolio

turnover

rate

................

7.96%

22.85%

16.05%

18.50%

29.01%

9.20%

a

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund's

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

b

Based

on

average

daily

shares

outstanding.

c

Total

return

does

not

reflect

sales

commissions

or

contingent

deferred

sales

charges,

if

applicable,

and

is

not

annualized

for

periods

less

than

one

year.

d

Ratios

are

annualized

for

periods

less

than

one

year.

e

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Franklin

California

Tax-Free

Trust

Financial

Highlights

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

a

#### Six

#### Months

#### Ended

#### December

#### 31,

#### 2025
(unaudited)

#### Year

#### Ended

#### June

#### 30,

#### 2025

#### 2024

#### 2023

#### 2022

#### 2021

#### Class

#### A1

#### Per

#### share

#### operating

#### performance
(for

a

share

outstanding

throughout

the

period)

Net

asset

value,

beginning

of

period

.....

$10.78

$10.96

$10.94

$10.98

$12.15

$12.08

Income

from

investment

operations

a

:

Net

investment

income

b

.............

0.19 0.35 0.33 0.31 0.26 0.27 Net

realized

and

unrealized

gains

(losses)

0.23 (0.18)

0.02 (0.05)

(1.17)

0.07 Total

from

investment

operations

........

0.42 0.17 0.35 0.26 (0.91)

0.34 Less

distributions

from:

Net

investment

income

..............

(0.19)

(0.35)

(0.33)

(0.30)

(0.26)

(0.27)

Net

asset

value,

end

of

period

..........

$11.01

$10.78

$10.96

$10.94

$10.98

$12.15

Total

return

c

.......................

3.94%

1.55%

3.28%

2.44%

(7.62)%

2.84%

#### Ratios

#### to

#### average

#### net

#### assets

#### d
Expenses

before

waiver

and

payments

by

affiliates

..........................

0.67%

0.66%

0.67%

0.66%

0.66%

0.65%

Expenses

net

of

waiver

and

payments

by

affiliates

..........................

0.59%

0.59%

e

0.59%

e

0.59%

e

0.59%

e

0.59%

e

Net

investment

income

...............

3.46%

3.19%

3.06%

2.80%

2.20%

2.22%

#### Supplemental

#### data
Net

assets

,

end

of

period

(000's)

........

$259,475

$281,711

$348,839

$418,383

$515,347

$668,093

Portfolio

turnover

rate

................

7.96%

22.85%

16.05%

18.50%

29.01%

9.20%

a

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund's

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

b

Based

on

average

daily

shares

outstanding.

c

Total

return

does

not

reflect

sales

commissions

or

contingent

deferred

sales

charges,

if

applicable,

and

is

not

annualized

for

periods

less

than

one

year.

d

Ratios

are

annualized

for

periods

less

than

one

year.

e

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Franklin

California

Tax-Free

Trust

Financial

Highlights

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

#### Six

#### Months

#### Ended

#### December

#### 31,

#### 2025
(unaudited)

#### Year

#### Ended

#### June

#### 30,

#### 2025

#### 2024

#### 2023

#### 2022

#### 2021

#### Class

#### C

#### Per

#### share

#### operating

#### performance
(for

a

share

outstanding

throughout

the

period)

Net

asset

value,

beginning

of

period

.....

$10.83

$11.01

$10.98

$11.02

$12.20

$12.13

Income

from

investment

operations

a

:

Net

investment

income

b

.............

0.16 0.29 0.27 0.25 0.19 0.20 Net

realized

and

unrealized

gains

(losses)

0.22 (0.18)

0.03 (0.05)

(1.18)

0.07 Total

from

investment

operations

........

0.38 0.11 0.30 0.20 (0.99)

0.27 Less

distributions

from:

Net

investment

income

..............

(0.16)

(0.29)

(0.27)

(0.24)

(0.19)

(0.20)

Net

asset

value,

end

of

period

..........

$11.05

$10.83

$11.01

$10.98

$11.02

$12.20

Total

return

c

.......................

3.54%

0.98%

2.80%

1.86%

(8.18)%

2.26%

#### Ratios

#### to

#### average

#### net

#### assets

#### d
Expenses

before

waiver

and

payments

by

affiliates

..........................

1.22%

1.21%

1.21%

1.21%

1.20%

1.20%

Expenses

net

of

waiver

and

payments

by

affiliates

..........................

1.14%

1.14%

e

1.14%

e

1.14%

e

1.14%

e

1.14%

e

Net

investment

income

...............

2.89%

2.62%

2.49%

2.24%

1.63%

1.66%

#### Supplemental

#### data
Net

assets

,

end

of

period

(000's)

........

$18,562

$20,672

$27,535

$40,150

$54,420

$101,559

Portfolio

turnover

rate

................

7.96%

22.85%

16.05%

18.50%

29.01%

9.20%

a

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund's

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

b

Based

on

average

daily

shares

outstanding.

c

Total

return

does

not

reflect

sales

commissions

or

contingent

deferred

sales

charges,

if

applicable,

and

is

not

annualized

for

periods

less

than

one

year.

d

Ratios

are

annualized

for

periods

less

than

one

year.

e

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Franklin

California

Tax-Free

Trust

Financial

Highlights

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

a

#### Six

#### Months

#### Ended

#### December

#### 31,

#### 2025
(unaudited)

#### Year

#### Ended

#### June

#### 30,

#### 2025

#### 2024

#### 2023

#### 2022

#### 2021

#### Class

#### R6

#### Per

#### share

#### operating

#### performance
(for

a

share

outstanding

throughout

the

period)

Net

asset

value,

beginning

of

period

.....

$10.81

$10.99

$10.97

$11.01

$12.18

$12.12

Income

from

investment

operations

a

:

Net

investment

income

b

.............

0.20 0.36 0.35 0.32 0.28 0.28 Net

realized

and

unrealized

gains

(losses)

0.23 (0.18)

0.02 (0.04)

(1.18)

0.07 Total

from

investment

operations

........

0.43 0.18 0.37 0.28 (0.90)

0.35 Less

distributions

from:

Net

investment

income

..............

(0.20)

(0.36)

(0.35)

(0.32)

(0.27)

(0.29)

Net

asset

value,

end

of

period

..........

$11.04

$10.81

$10.99

$10.97

$11.01

$12.18

Total

return

c

.......................

3.99%

1.67%

3.40%

2.56%

(7.48)%

2.88%

#### Ratios

#### to

#### average

#### net

#### assets

#### d
Expenses

before

waiver

and

payments

by

affiliates

..........................

0.52%

0.51%

0.52%

0.53%

0.52%

0.51%

Expenses

net

of

waiver

and

payments

by

affiliates

..........................

0.46%

0.46%

e

0.46%

e

0.46%

e

0.46%

e

0.45%

e

Net

investment

income

...............

3.59%

3.33%

3.20%

2.95%

2.35%

2.33%

#### Supplemental

#### data
Net

assets

,

end

of

period

(000's)

........

$79,556

$65,695

$58,357

$50,131

$36,294

$28,080

Portfolio

turnover

rate

................

7.96%

22.85%

16.05%

18.50%

29.01%

9.20%

a

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund's

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

b

Based

on

average

daily

shares

outstanding.

c

Total

return

is

not

annualized

for

periods

less

than

one

year.

d

Ratios

are

annualized

for

periods

less

than

one

year.

e

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Franklin

California

Tax-Free

Trust

Financial

Highlights

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

#### Six

#### Months

#### Ended

#### December

#### 31,

#### 2025
(unaudited)

#### Year

#### Ended

#### June

#### 30,

#### 2025

#### 2024

#### 2023

#### 2022

#### 2021

#### Advisor

#### Class

#### Per

#### share

#### operating

#### performance
(for

a

share

outstanding

throughout

the

period)

Net

asset

value,

beginning

of

period

.....

$10.81

$10.99

$10.97

$11.01

$12.18

$12.12

Income

from

investment

operations

a

:

Net

investment

income

b

.............

0.20 0.36 0.35 0.32 0.27 0.28 Net

realized

and

unrealized

gains

(losses)

0.23 (0.18)

0.01 (0.05)

(1.17)

0.06 Total

from

investment

operations

........

0.43 0.18 0.36 0.27 (0.90)

0.34 Less

distributions

from:

Net

investment

income

..............

(0.20)

(0.36)

(0.34)

(0.31)

(0.27)

(0.28)

Net

asset

value,

end

of

period

..........

$11.04

$10.81

$10.99

$10.97

$11.01

$12.18

Total

return

c

.......................

3.98%

1.64%

3.37%

2.53%

(7.51)%

2.85%

#### Ratios

#### to

#### average

#### net

#### assets

#### d
Expenses

before

waiver

and

payments

by

affiliates

..........................

0.57%

0.56%

0.57%

0.56%

0.56%

0.55%

Expenses

net

of

waiver

and

payments

by

affiliates

..........................

0.49%

0.49%

e

0.49%

e

0.49%

e

0.49%

e

0.49%

e

Net

investment

income

...............

3.55%

3.29%

3.16%

2.89%

2.30%

2.31%

#### Supplemental

#### data
Net

assets

,

end

of

period

(000's)

........

$579,136

$534,874

$542,009

$516,585

$613,805

$716,600

Portfolio

turnover

rate

................

7.96%

22.85%

16.05%

18.50%

29.01%

9.20%

a

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund's

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

b

Based

on

average

daily

shares

outstanding.

c

Total

return

is

not

annualized

for

periods

less

than

one

year.

d

Ratios

are

annualized

for

periods

less

than

one

year.

e

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Franklin

California

Tax-Free

Trust

Schedule

of

Investments

(unaudited),

December

31,

2025

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

a

a

#### Principal

#### Amount
a

#### Value
a

a

#### a
a

#### Municipal

#### Bonds

#### 96.4%

#### Arizona

#### 0.7%
a

Maricopa

County

Industrial

Development

Authority

,

Grand

Canyon

University

Obligated

Group

,

Revenue

,

144A,

2024

,

7.375 %

,

10/01/29

..........................

$

9,340,000

$

9,801,975

#### California

#### 94.4%
Align

Affordable

Housing

Bond

Fund

LP

,

a,b

Breezewood

2019

LP

,

Revenue

,

144A,

FRN

,

2020-3

TR

,

A

,

5.3 %

,

8/01/30

.......

11,700,335

11,700,845

Parkwood

Apartments

,

2021-1

,

2.25 %

,

8/01/31

...........................

11,250,000

10,658,475

Beaumont

Public

Improvement

Authority

,

Special

Tax

,

2025

B

,

%

,

9/01/50

........

1,775,000

1,802,722

Beaumont

Unified

School

District

,

Community

Facilities

District

No.

2020-1

Improvement

Area

No.

,

Special

Tax

,

2023

,

%

,

9/01/38

....................................................

300,000

319,212

Community

Facilities

District

No.

2020-1

Improvement

Area

No.

,

Special

Tax

,

2023

,

%

,

9/01/43

....................................................

1,295,000

1,335,967

Community

Facilities

District

No.

2020-1

Improvement

Area

No.

,

Special

Tax

,

2023

,

%

,

9/01/48

....................................................

660,000

674,278

Community

Facilities

District

No.

2020-1

Improvement

Area

No.

,

Special

Tax

,

2023

,

%

,

9/01/53

....................................................

725,000

734,924

California

Affordable

Housing

Agency

,

Butte

County

Housing

Authority

,

Revenue

,

2020

A

,

%

,

10/01/35

...................................................

500,000

427,930

California

Community

Choice

Financing

Authority

,

c

Revenue

,

2021

A

,

Mandatory

Put

,

%

,

12/01/27

...........................

13,200,000

13,328,971

c

Revenue

,

2021

,

Mandatory

Put

,

%

,

8/01/31

..........................

9,150,000

9,283,980

c

Revenue

,

2022

,

Mandatory

Put

,

%

,

8/01/28

..........................

20,000,000

20,327,230

c

Revenue

,

2024

B

,

Mandatory

Put

,

%

,

12/01/32

...........................

35,485,000

37,005,692

c

Revenue

,

2024

D

,

Mandatory

Put

,

%

,

9/01/32

...........................

15,000,000

16,291,321

c

Revenue

,

2025

C

,

Mandatory

Put

,

%

,

10/01/33

...........................

12,500,000

13,276,295

Revenue

,

2025

G

,

%

,

12/01/35

.......................................

15,000,000

16,472,244

California

Community

College

Financing

Authority

,

NCCD-Orange

Coast

Properties

LLC

,

Revenue

,

2018

,

%

,

5/01/32

............

1,750,000

1,822,697

NCCD-Orange

Coast

Properties

LLC

,

Revenue

,

2018

,

%

,

5/01/33

............

600,000

623,569

NCCD-Orange

Coast

Properties

LLC

,

Revenue

,

2018

,

%

,

5/01/35

............

3,040,000

3,145,906

NCCD-Orange

Coast

Properties

LLC

,

Revenue

,

2018

,

%

,

5/01/37

............

1,600,000

1,647,187

NCCD-Orange

Coast

Properties

LLC

,

Revenue

,

2018

,

%

,

5/01/38

............

1,320,000

1,355,857

a

California

Community

Housing

Agency

,

Aster

Apartments

,

Revenue,

Junior

Lien

,

144A,

2021

,

%

,

2/01/43

..............................................

3,215,000

2,955,241

California

County

Tobacco

Securitization

Agency

,

Los

Angeles

County

Securitization

Corp.

,

Revenue,

Senior

Lien

,

2020

A

,

Refunding

,

%

,

6/01/35

....................................................

1,505,000

1,500,758

Los

Angeles

County

Securitization

Corp.

,

Revenue,

Senior

Lien

,

2020

A

,

Refunding

,

%

,

6/01/39

....................................................

1,300,000

1,242,611

California

Educational

Facilities

Authority

,

Art

Center

College

of

Design

,

Revenue

,

2022

A

,

%

,

12/01/32

................

275,000

297,615

Art

Center

College

of

Design

,

Revenue

,

2022

A

,

%

,

12/01/33

................

545,000

586,698

Art

Center

College

of

Design

,

Revenue

,

2022

A

,

%

,

12/01/36

................

595,000

629,636

Leland

Stanford

Junior

University

(The)

,

Revenue

,

,

%

,

5/01/45

............

1,135,000

1,314,580

Leland

Stanford

Junior

University

(The)

,

Revenue

,

,

%

,

6/01/46

............

9,485,000

10,914,508

Leland

Stanford

Junior

University

(The)

,

Revenue

,

,

%

,

5/01/49

............

10,350,000

11,751,267

Loma

Linda

University

,

Revenue

,

2017

A

,

Refunding

,

%

,

4/01/29

.............

1,020,000

1,041,682

Loma

Linda

University

,

Revenue

,

2017

A

,

Refunding

,

%

,

4/01/32

.............

1,235,000

1,258,876

Loma

Linda

University

,

Revenue

,

2017

A

,

Refunding

,

%

,

4/01/33

.............

1,000,000

1,018,003

Loma

Linda

University

,

Revenue

,

2017

A

,

Refunding

,

%

,

4/01/34

.............

1,750,000

1,779,115

Loma

Linda

University

,

Revenue

,

2017

A

,

Refunding

,

%

,

4/01/35

.............

1,500,000

1,523,819

Loma

Linda

University

,

Revenue

,

2017

A

,

Refunding

,

%

,

4/01/36

.............

2,000,000

2,029,360

Loma

Linda

University

,

Revenue

,

2017

A

,

Refunding

,

%

,

4/01/37

.............

2,000,000

2,026,986

St.

Mary's

College

of

California

,

Revenue

,

2023

A

,

Refunding

,

%

,

10/01/36

......

750,000

771,982

St.

Mary's

College

of

California

,

Revenue

,

2023

A

,

Refunding

,

%

,

10/01/37

......

725,000

739,836

St.

Mary's

College

of

California

,

Revenue

,

2023

A

,

Refunding

,

%

,

10/01/38

......

1,025,000

1,043,971

St.

Mary's

College

of

California

,

Revenue

,

2023

A

,

Refunding

,

5.25 %

,

10/01/44

...

4,450,000

4,363,211

Franklin

California

Tax-Free

Trust

Schedule

of

Investments

(unaudited)

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

a

#### Principal

#### Amount
a

#### Value
a

a

#### a
a

#### Municipal

#### Bonds
(continued)

#### California
(continued)

California

Educational

Facilities

Authority,

(continued)

University

of

Southern

California

,

Revenue

,

2025

A

,

%

,

10/01/55

.............

$

15,975,000

$

16,952,366

California

Enterprise

Development

Authority

,

Provident

Group-SDSU

Properties

LLC

,

Revenue,

First

Tier

,

2020

A

,

%

,

8/01/26

..

540,000

545,058

Provident

Group-SDSU

Properties

LLC

,

Revenue,

First

Tier

,

2020

A

,

%

,

8/01/28

..

615,000

639,790

Provident

Group-SDSU

Properties

LLC

,

Revenue,

First

Tier

,

2020

A

,

%

,

8/01/30

..

250,000

266,842

Provident

Group-SDSU

Properties

LLC

,

Revenue,

First

Tier

,

2020

A

,

%

,

8/01/35

..

450,000

474,314

California

Health

Facilities

Financing

Authority

,

Cedars-Sinai

Medical

Center

Obligated

Group

,

Revenue

,

2016

A

,

Refunding

,

%

,

8/15/31

........................................................

3,500,000

3,556,059

Children's

Hospital

Los

Angeles

Obligated

Group

,

Revenue

,

2017

A

,

Refunding

,

%

,

8/15/36

........................................................

2,045,000

2,077,526

Children's

Hospital

Los

Angeles

Obligated

Group

,

Revenue

,

2017

A

,

Refunding

,

%

,

8/15/37

........................................................

2,530,000

2,561,687

CommonSpirit

Health

Obligated

Group

,

Revenue

,

2024

A

,

%

,

12/01/54

.........

7,835,000

8,064,597

El

Camino

Hospital

LP

,

Revenue

,

2017

,

%

,

2/01/28

.......................

2,100,000

2,158,369

El

Camino

Hospital

LP

,

Revenue

,

2017

,

%

,

2/01/29

.......................

2,460,000

2,528,616

El

Camino

Hospital

LP

,

Revenue

,

2017

,

%

,

2/01/30

.......................

1,250,000

1,284,512

El

Camino

Hospital

LP

,

Revenue

,

2017

,

%

,

2/01/31

.......................

1,200,000

1,232,151

Kaiser

Foundation

Hospitals

,

Revenue

,

2017

,

%

,

11/01/47

...............

7,000,000

7,868,157

Marshall

Medical

Center

,

Revenue

,

2015

,

Refunding

,

California

Mortgage

Insured

,

%

,

11/01/33

...................................................

1,000,000

1,001,743

California

Housing

Finance

Agency

,

Revenue

,

2019-2

,

A

,

%

,

3/20/33

......................................

4,694,289

4,812,154

Lakeside

Drive

Senior

Housing

LP

,

Revenue

,

2019

N

,

FNMA

Insured

,

2.35 %

,

12/01/35

.......................................................

8,910,627

7,965,004

California

Infrastructure

&

Economic

Development

Bank

,

Academy

of

Motion

Picture

Arts

and

Sciences

Obligated

Group

,

Revenue

,

2020

A

,

%

,

11/01/30

...........

7,260,000

8,249,990

California

Municipal

Finance

Authority

,

Revenue

,

2024

,

Refunding

,

%

,

12/01/43

................................

2,000,000

1,950,932

a

Revenue

,

144A,

2025

A

,

6.375 %

,

8/01/37

...............................

6,500,000

6,722,988

Revenue

,

2025

A

,

6.1 %

,

12/01/37

.....................................

3,500,000

3,506,405

Special

Tax

,

2025

B

,

%

,

9/01/45

......................................

1,250,000

1,269,837

ACI

Royal

York,

Inc.

,

Revenue

,

2020

A

,

3.125 %

,

2/15/33

....................

620,000

582,300

Aldersly

,

Revenue

,

2023

,

Refunding

,

California

Mortgage

Insured

,

%

,

11/15/28

595,000

597,400

California

Home

for

the

Aged,

Inc.

(The)

,

Revenue

,

2018

,

California

Mortgage

Insured

,

%

,

5/15/36

..............................................

1,000,000

1,044,094

California

Institute

of

the

Arts

,

Revenue

,

2021

,

%

,

10/01/32

.................

120,000

123,152

California

Institute

of

the

Arts

,

Revenue

,

2021

,

%

,

10/01/33

.................

120,000

122,562

California

Institute

of

the

Arts

,

Revenue

,

2021

,

%

,

10/01/34

.................

155,000

157,590

California

Institute

of

the

Arts

,

Revenue

,

2021

,

%

,

10/01/35

.................

160,000

161,933

California

Institute

of

the

Arts

,

Revenue

,

2021

,

%

,

10/01/36

.................

185,000

186,226

California

Institute

of

the

Arts

,

Revenue

,

2021

,

%

,

10/01/37

.................

170,000

170,204

Caritas

Corp.

CMFA

Mobile

Home

Park

Financing

,

Revenue,

Sub.

Lien

,

2021

B

,

Refunding

,

%

,

8/15/31

............................................

80,000

78,362

Caritas

Corp.

CMFA

Mobile

Home

Park

Financing

,

Revenue,

Sub.

Lien

,

2021

B

,

Refunding

,

%

,

8/15/41

............................................

590,000

558,913

Caritas

Corp.

CMFA

Mobile

Home

Park

Financing

,

Revenue,

Sub.

Lien

,

2021

B

,

Refunding

,

%

,

8/15/56

............................................

540,000

449,383

a

Century

CityView

LP

,

Revenue

,

144A,

2021

A

,

%

,

11/01/36

..................

8,125,000

7,788,413

CHF-Riverside

II

LLC

,

Revenue

,

2019

,

%

,

5/15/30

........................

3,635,000

3,870,417

CHF-Riverside

II

LLC

,

Revenue

,

2019

,

%

,

5/15/36

........................

1,260,000

1,316,012

CHF-Riverside

II

LLC

,

Revenue

,

2019

,

%

,

5/15/38

........................

1,500,000

1,554,708

Community

Facilities

District

No.

2021-9

Improvement

Area

No.

,

Special

Tax

,

2025

,

%

,

9/01/45

....................................................

1,130,000

1,147,933

Community

Facilities

District

No.

2022-27

,

Special

Tax

,

2025

,

5.125 %

,

9/01/45

....

1,580,000

1,621,287

Franklin

California

Tax-Free

Trust

Schedule

of

Investments

(unaudited)

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

a

a

#### Principal

#### Amount
a

#### Value
a

a

#### a
a

#### Municipal

#### Bonds
(continued)

#### California
(continued)

California

Municipal

Finance

Authority,

(continued)

Community

Facilities

District

No.

2023-5

Area

No.

Improvement

Area

No.

,

Special

Tax

,

2025

,

%

,

9/01/45

............................................

$

670,000

$

681,607

Community

Hospitals

of

Central

California

Obligated

Group

,

Revenue

,

2017

A

,

Refunding

,

%

,

2/01/26

............................................

2,010,000

2,012,303

Community

Hospitals

of

Central

California

Obligated

Group

,

Revenue

,

2017

A

,

Refunding

,

%

,

2/01/29

............................................

6,270,000

6,386,022

Community

Hospitals

of

Central

California

Obligated

Group

,

Revenue

,

2017

A

,

Refunding

,

%

,

2/01/30

............................................

4,680,000

4,762,878

Community

Hospitals

of

Central

California

Obligated

Group

,

Revenue

,

2017

A

,

Refunding

,

%

,

2/01/32

............................................

3,300,000

3,355,549

Community

Hospitals

of

Central

California

Obligated

Group

,

Revenue

,

2017

A

,

Refunding

,

%

,

2/01/33

............................................

7,440,000

7,559,137

Community

Hospitals

of

Central

California

Obligated

Group

,

Revenue

,

2017

A

,

Refunding

,

%

,

2/01/34

............................................

5,000,000

5,075,644

Community

Hospitals

of

Central

California

Obligated

Group

,

Revenue

,

2017

A

,

Refunding

,

%

,

2/01/36

............................................

2,295,000

2,326,000

Community

Hospitals

of

Central

California

Obligated

Group

,

Revenue

,

2017

A

,

Refunding

,

%

,

2/01/37

............................................

2,000,000

2,024,512

Concordia

University

Irvine

,

Revenue

,

2021

,

%

,

1/01/28

....................

150,000

150,496

Concordia

University

Irvine

,

Revenue

,

2021

,

%

,

1/01/29

....................

300,000

301,371

Concordia

University

Irvine

,

Revenue

,

2021

,

%

,

1/01/30

....................

400,000

402,191

Concordia

University

Irvine

,

Revenue

,

2021

,

%

,

1/01/31

....................

350,000

351,820

Concordia

University

Irvine

,

Revenue

,

2021

,

%

,

1/01/32

....................

250,000

250,558

Concordia

University

Irvine

,

Revenue

,

2021

,

%

,

1/01/33

....................

155,000

154,470

Concordia

University

Irvine

,

Revenue

,

2021

,

%

,

1/01/34

....................

110,000

108,735

Concordia

University

Irvine

,

Revenue

,

2021

,

%

,

1/01/35

....................

250,000

245,278

Congregational

Homes,

Inc.

Obligated

Group

,

Revenue

,

2022

A

,

%

,

11/15/26

....

210,000

211,743

Congregational

Homes,

Inc.

Obligated

Group

,

Revenue

,

2022

A

,

%

,

11/15/27

....

110,000

112,182

Congregational

Homes,

Inc.

Obligated

Group

,

Revenue

,

2022

A

,

%

,

11/15/28

....

115,000

118,576

Congregational

Homes,

Inc.

Obligated

Group

,

Revenue

,

2022

A

,

%

,

11/15/29

....

240,000

250,390

Congregational

Homes,

Inc.

Obligated

Group

,

Revenue

,

2022

A

,

%

,

11/15/30

....

125,000

126,331

Congregational

Homes,

Inc.

Obligated

Group

,

Revenue

,

2022

A

,

%

,

11/15/31

....

265,000

268,563

Congregational

Homes,

Inc.

Obligated

Group

,

Revenue

,

2022

A

,

%

,

11/15/32

....

280,000

284,265

Del

Harbor

Foundation

,

Revenue

,

2015

,

Refunding

,

%

,

11/01/26

.............

1,085,000

1,086,564

a

IH

Lakes

Concord

LLC

,

Revenue

,

144A,

2022

,

4.375 %

,

12/01/32

...........

15,000,000

14,802,019

a

IH

Lakes

Concord

LLC

,

Revenue

,

144A,

2022

,

6.75 %

,

12/01/32

............

930,000

916,821

Inland

Counties

Regional

Center,

Inc.

,

Revenue

,

2015

,

Refunding

,

%

,

6/15/32

...

6,625,000

6,631,732

Integrity

Housing

Obligated

Group

,

Revenue

,

2022

,

4.25 %

,

12/01/37

........

5,800,000

4,878,611

Integrity

Housing

Obligated

Group

,

Revenue

,

2022

,

6.25 %

,

12/01/32

........

3,105,000

2,880,840

LAX

Integrated

Express

Solutions

LLC

,

Revenue,

Senior

Lien

,

2018

A

,

%

,

12/31/34

3,000,000

3,081,694

LAX

Integrated

Express

Solutions

LLC

,

Revenue,

Senior

Lien

,

2018

A

,

%

,

12/31/35

5,500,000

5,636,010

LAX

Integrated

Express

Solutions

LLC

,

Revenue,

Senior

Lien

,

2018

A

,

%

,

12/31/36

10,570,000

10,801,525

LAX

Integrated

Express

Solutions

LLC

,

Revenue,

Senior

Lien

,

2018

A

,

%

,

12/31/37

2,930,000

2,989,719

LAX

Integrated

Express

Solutions

LLC

,

Revenue,

Senior

Lien

,

2018

A

,

%

,

12/31/38

7,600,000

7,754,506

a

NCCD-Claremont

Properties

LLC

,

Revenue

,

144A,

2023

A

,

Refunding

,

%

,

7/01/35

3,960,000

4,209,604

Northbay

Healthcare

Corp.

Obligated

Group

,

Revenue

,

2017

A

,

%

,

11/01/28

.....

1,400,000

1,412,730

Northbay

Healthcare

Corp.

Obligated

Group

,

Revenue

,

2017

A

,

5.25 %

,

11/01/29

..

1,000,000

1,011,252

Northbay

Healthcare

Corp.

Obligated

Group

,

Revenue

,

2017

A

,

%

,

11/01/30

.....

1,350,000

1,362,366

Northbay

Healthcare

Corp.

Obligated

Group

,

Revenue

,

2017

A

,

5.25 %

,

11/01/31

..

1,250,000

1,263,563

Northbay

Healthcare

Corp.

Obligated

Group

,

Revenue

,

2017

A

,

5.25 %

,

11/01/41

..

4,620,000

4,635,214

Northbay

Healthcare

Group

Obligated

Group

,

Revenue

,

2017

A

,

%

,

11/01/26

....

900,000

909,102

Northbay

Healthcare

Group

Obligated

Group

,

Revenue

,

2017

A

,

%

,

11/01/27

....

1,300,000

1,311,557

Northern

California

Retired

Officers

Community

,

Revenue

,

2016

,

Refunding

,

California

Mortgage

Insured

,

%

,

1/01/37

..............................

1,310,000

1,339,736

Palomar

Health

Obligated

Group

,

COP

,

2022

A

,

Refunding

,

AG

Insured

,

%

,

11/01/27

.......................................................

100,000

102,552

Franklin

California

Tax-Free

Trust

Schedule

of

Investments

(unaudited)

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

a

#### Principal

#### Amount
a

#### Value
a

a

#### a
a

#### Municipal

#### Bonds
(continued)

#### California
(continued)

California

Municipal

Finance

Authority,

(continued)

Palomar

Health

Obligated

Group

,

COP

,

2022

A

,

Refunding

,

AG

Insured

,

%

,

11/01/28

.......................................................

$

250,000

$

259,188

Palomar

Health

Obligated

Group

,

COP

,

2022

A

,

Refunding

,

AG

Insured

,

%

,

11/01/29

.......................................................

250,000

261,464

Palomar

Health

Obligated

Group

,

COP

,

2022

A

,

Refunding

,

AG

Insured

,

%

,

11/01/30

.......................................................

210,000

220,900

Palomar

Health

Obligated

Group

,

COP

,

2022

A

,

Refunding

,

AG

Insured

,

%

,

11/01/31

.......................................................

435,000

458,497

Palomar

Health

Obligated

Group

,

COP

,

2022

A

,

Refunding

,

AG

Insured

,

%

,

11/01/33

.......................................................

1,200,000

1,248,720

Palomar

Health

Obligated

Group

,

COP

,

2022

A

,

Refunding

,

AG

Insured

,

5.25 %

,

11/01/34

.......................................................

1,430,000

1,493,882

Palomar

Health

Obligated

Group

,

COP

,

2022

A

,

Refunding

,

AG

Insured

,

5.25 %

,

11/01/35

.......................................................

1,200,000

1,242,211

Palomar

Health

Obligated

Group

,

COP

,

2022

A

,

Refunding

,

AG

Insured

,

5.25 %

,

11/01/36

.......................................................

1,550,000

1,592,089

Pilgrim

Place

in

Claremont

,

Revenue

,

2016

A

,

Refunding

,

California

Mortgage

Insured

,

%

,

5/15/31

..............................................

2,750,000

2,843,638

Porter

1107

LLC

,

Revenue

,

2025

A

,

6.2 %

,

11/01/37

........................

10,000,000

10,152,390

Scripps

College

,

Revenue

,

2025

,

%

,

7/01/50

............................

3,395,000

3,473,526

System

Management

Group

,

Revenue

,

2019

A

,

%

,

4/01/35

.................

1,780,000

1,892,067

System

Management

Group

,

Revenue

,

2019

A

,

%

,

4/01/37

.................

2,945,000

3,109,319

University

of

La

Verne

,

Revenue

,

2017

A

,

Refunding

,

%

,

6/01/31

.............

1,000,000

1,022,105

University

of

La

Verne

,

Revenue

,

2017

A

,

Refunding

,

%

,

6/01/32

.............

1,000,000

1,021,291

University

of

La

Verne

,

Revenue

,

2017

A

,

Refunding

,

%

,

6/01/33

.............

1,010,000

1,030,389

University

of

La

Verne

,

Revenue

,

2017

A

,

Refunding

,

%

,

6/01/35

.............

1,440,000

1,465,741

a

California

Pollution

Control

Financing

Authority

,

Channelside

Water

Resources

LP

,

Revenue

,

144A,

2019

,

Refunding

,

%

,

7/01/29

.

3,875,000

3,994,485

Channelside

Water

Resources

LP

,

Revenue

,

144A,

2023

,

%

,

7/01/26

..........

2,680,000

2,696,895

Channelside

Water

Resources

LP

,

Revenue

,

144A,

2023

,

%

,

7/01/28

..........

4,170,000

4,315,101

c

California

Public

Finance

Authority

,

Henry

Mayo

Newhall

Hospital

Obligated

Group

,

Revenue

,

2021

B

,

Mandatory

Put

,

%

,

10/15/31

...........................

690,000

678,194

a

California

School

Finance

Authority

,

Aspire

Public

Schools

Obligated

Group

,

Revenue

,

144A,

2022

A

,

%

,

8/01/32

....

640,000

660,680

Camino

Nuevo

Charter

Academy

Obligated

Group

,

Revenue

,

144A,

2023

A

,

Refunding

,

%

,

6/01/33

............................................

1,655,000

1,732,057

Classical

Academy

Obligated

Group

,

Revenue

,

144A,

2022

A

,

Refunding

,

%

,

10/01/27

.......................................................

270,000

271,273

Classical

Academy

Obligated

Group

,

Revenue

,

144A,

2022

A

,

Refunding

,

%

,

10/01/32

.......................................................

1,455,000

1,539,606

Green

Dot

Public

Schools

Obligated

Group

,

Revenue

,

144A,

2018

A

,

%

,

8/01/26

.

300,000

302,430

Green

Dot

Public

Schools

Obligated

Group

,

Revenue

,

144A,

2018

A

,

%

,

8/01/27

.

320,000

327,813

Green

Dot

Public

Schools

Obligated

Group

,

Revenue

,

144A,

2022

A

,

Refunding

,

%

,

8/01/32

........................................................

595,000

625,310

Green

Dot

Public

Schools

Obligated

Group

,

Revenue

,

144A,

2022

A

,

Refunding

,

5.375 %

,

8/01/42

.................................................

1,500,000

1,571,360

STEM

Preparatory

Schools

-

Obligated

Group

,

Revenue

,

144A,

2023

A

,

%

,

6/01/33

300,000

316,532

California

State

Public

Works

Board

,

Revenue

,

2025

A

,

%

,

4/01/50

.............

30,500,000

32,291,222

California

Statewide

Communities

Development

Authority

,

Special

Assessment

,

2025

,

%

,

9/02/45

..............................

3,665,000

3,765,667

Special

Tax

,

2023

A

,

%

,

9/01/36

......................................

455,000

485,538

Special

Tax

,

2023

A

,

%

,

9/01/43

......................................

215,000

221,958

Special

Tax

,

2023

,

%

,

9/02/43

....................................

3,835,000

3,929,136

Special

Tax

,

2025

A

,

%

,

9/02/45

......................................

5,745,000

5,929,920

Special

Tax

,

2025

B

,

%

,

9/02/45

......................................

1,410,000

1,449,835

Franklin

California

Tax-Free

Trust

Schedule

of

Investments

(unaudited)

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

a

a

#### Principal

#### Amount
a

#### Value
a

a

#### a
a

#### Municipal

#### Bonds
(continued)

#### California
(continued)

California

Statewide

Communities

Development

Authority,

(continued)

Community

Facilities

District

No.

2020-02

Improvement

Area

No.

,

Special

Tax

,

2022

,

5.125 %

,

9/01/42

............................................

$

500,000

$

523,058

Community

Facilities

District

No.

2021-1

,

Special

Tax

,

2023

,

4.75 %

,

9/01/38

......

500,000

527,334

Community

Facilities

District

No.

2022-10

,

Special

Tax

,

2023

,

5.25 %

,

9/01/43

.....

650,000

682,759

Hebrew

Home

for

Aged

Disabled

,

Revenue

,

2016

,

California

Mortgage

Insured

,

%

,

11/01/36

.......................................................

9,000,000

9,134,566

Sequoia

Living,

Inc.

,

Revenue

,

2025

A

,

Refunding

,

California

Mortgage

Insured

,

%

,

7/01/55

........................................................

14,425,000

15,105,988

Carlsbad

Unified

School

District

,

GO

,

2018

C

,

%

,

8/01/50

....................

5,000,000

4,740,637

Carson

Public

Financing

Authority

,

City

of

Carson

Reassessment

District

No.

2001-1

,

Revenue

,

2019

,

Refunding

,

%

,

9/02/31

.................................

1,000,000

1,089,580

d

Cerritos

Community

College

District

,

GO

,

2012

D

,

3.26 %,

8/01/36

...............

6,130,000

4,364,550

Chino

Community

Facilities

District

,

City

of

Chino

Community

Facilities

District

No.

2003-3

Improvement

Area

No.

,

Special

Tax

,

2022

,

%

,

9/01/30

......................................

1,280,000

1,379,616

City

of

Chino

Community

Facilities

District

No.

2003-3

Improvement

Area

No.

,

Special

Tax

,

2022

,

4.5 %

,

9/01/31

....................................

725,000

765,553

City

of

Chino

Community

Facilities

District

No.

2003-3

Improvement

Area

No.

,

Special

Tax

,

2022

,

4.625 %

,

9/01/32

...................................

755,000

806,862

City

of

Chino

Community

Facilities

District

No.

2003-3

Improvement

Area

No.

,

Special

Tax

,

2022

,

4.75 %

,

9/01/34

...................................

1,620,000

1,731,412

City

of

Chino

Community

Facilities

District

No.

2022-1

,

Special

Tax

,

2025

,

%

,

9/01/45

........................................................

2,125,000

2,183,355

City

of

Chino

Community

Facilities

District

No.

2022-1

,

Special

Tax

,

2025

,

5.125 %

,

9/01/50

........................................................

1,500,000

1,541,296

Community

Facilities

District

No.

2021-1

,

Special

Tax

,

2023

,

%

,

9/01/38

........

1,090,000

1,168,098

Community

Facilities

District

No.

2021-1

,

Special

Tax

,

2023

,

5.375 %

,

9/01/43

.....

1,000,000

1,063,105

Community

Facilities

District

No.

2021-1

,

Special

Tax

,

2023

,

5.5 %

,

9/01/48

.......

1,200,000

1,264,411

Community

Facilities

District

No.

2021-1

,

Special

Tax

,

2023

,

5.625 %

,

9/01/53

.....

375,000

396,172

City

&

County

of

San

Francisco

,

GO

,

2021

,

%

,

6/15/37

..........................................

2,000,000

2,051,874

GO

,

2021

,

%

,

6/15/36

..........................................

1,140,000

1,175,837

a

District

No.

2020-1

Development

,

Special

Tax

,

144A,

2023

A

,

5.25 %

,

9/01/38

.....

875,000

942,633

a

District

No.

2020-1

Office

,

Special

Tax

,

144A,

2023

B

,

%

,

9/01/33

.............

935,000

992,705

a

District

No.

2020-1

Office

,

Special

Tax

,

144A,

2023

B

,

5.5 %

,

9/01/43

...........

1,060,000

1,122,699

a

District

No.

2020-1

Shoreline

Tax

Zone

,

Special

Tax

,

144A,

2023

C

,

%

,

9/01/33

.

520,000

552,139

a

District

No.

2020-1

Shoreline

Tax

Zone

,

Special

Tax

,

144A,

2023

C

,

5.25 %

,

9/01/38

880,000

948,020

a

District

No.

2020-1

Shoreline

Tax

Zone

,

Special

Tax

,

144A,

2023

C

,

5.5 %

,

9/01/43

1,005,000

1,064,446

City

of

Chula

Vista

,

Community

Facilities

District

No.

16-1

Area

No.

,

Special

Tax

,

2021

,

%

,

9/01/46

.................................................

1,500,000

1,362,020

City

of

Clovis

,

Sewer

,

Revenue

,

2013

,

Refunding

,

BAM

Insured

,

%

,

8/01/28

.......

1,200,000

1,202,156

City

of

Dublin

,

Community

Facilities

District

No.

2015-1

Improvement

Area

No.

,

Special

Tax

,

2022

,

%

,

9/01/37

....................................................

955,000

1,018,290

Community

Facilities

District

No.

2015-1

Improvement

Area

No.

,

Special

Tax

,

2023

,

%

,

9/01/38

....................................................

785,000

835,830

City

of

Fontana

,

Community

Facilities

District

No.

,

Special

Tax

,

2020

,

%

,

9/01/32

...........

250,000

256,289

Community

Facilities

District

No.

,

Special

Tax

,

2020

,

%

,

9/01/36

...........

550,000

556,318

Community

Facilities

District

No.

,

Special

Tax

,

2021

,

%

,

9/01/41

...........

400,000

389,432

Community

Facilities

District

No.

,

Special

Tax

,

2024

,

%

,

9/01/54

..........

1,400,000

1,408,056

City

of

Lake

Elsinore

,

Community

Facilities

District

No.

2006-1

Improvement

Area

KK

,

Special

Tax

,

2021

,

%

,

9/01/46

.......................................

400,000

360,263

City

of

Lincoln

,

Community

Facilities

District

No.

2019-1

,

Special

Tax

,

2022

,

%

,

9/01/37

........

1,215,000

1,295,521

Community

Facilities

District

No.

2019-1

,

Special

Tax

,

2025

,

%

,

9/01/50

........

850,000

861,961

Franklin

California

Tax-Free

Trust

Schedule

of

Investments

(unaudited)

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

a

#### Principal

#### Amount
a

#### Value
a

a

#### a
a

#### Municipal

#### Bonds
(continued)

#### California
(continued)

City

of

Long

Beach

,

Harbor

,

Revenue

,

2019

A

,

%

,

5/15/38

....................

$

2,000,000

$

2,127,048

City

of

Los

Angeles

,

Department

of

Airports

,

Revenue

,

2018

B

,

Refunding

,

%

,

5/15/32

.............

3,325,000

3,472,877

Department

of

Airports

,

Revenue

,

2018

C

,

%

,

5/15/35

.....................

5,800,000

5,973,502

Department

of

Airports

,

Revenue

,

2019

F

,

%

,

5/15/37

......................

5,715,000

5,981,210

Department

of

Airports

,

Revenue

,

2019

F

,

%

,

5/15/38

......................

4,500,000

4,699,130

Department

of

Airports

,

Revenue

,

2020

A

,

Refunding

,

%

,

5/15/35

.............

2,115,000

2,314,202

Department

of

Airports

,

Revenue

,

2020

A

,

Refunding

,

%

,

5/15/37

.............

7,380,000

8,010,636

Department

of

Airports

,

Revenue

,

2020

A

,

Refunding

,

%

,

5/15/40

.............

5,485,000

5,875,050

Department

of

Airports

,

Revenue,

Senior

Lien

,

2022

G

,

5.5 %

,

5/15/36

..........

1,325,000

1,489,583

Department

of

Airports

,

Revenue,

Senior

Lien

,

2022

G

,

5.5 %

,

5/15/37

..........

9,960,000

11,131,133

Department

of

Airports

,

Revenue,

Senior

Lien

,

2022

G

,

5.5 %

,

5/15/38

..........

1,080,000

1,200,167

Department

of

Airports

,

Revenue,

Senior

Lien

,

2022

G

,

5.5 %

,

5/15/40

..........

580,000

635,972

Department

of

Airports

,

Revenue,

Sub.

Lien

,

2017

A

,

%

,

5/15/31

.............

2,815,000

2,887,917

Department

of

Airports

,

Revenue,

Sub.

Lien

,

2019

D

,

%

,

5/15/31

.............

2,685,000

2,832,893

Department

of

Airports

,

Revenue,

Sub.

Lien

,

2019

D

,

%

,

5/15/36

.............

2,500,000

2,606,729

Department

of

Airports

,

Revenue,

Sub.

Lien

,

2022

C

,

Refunding

,

%

,

5/15/39

.....

2,800,000

2,807,349

City

of

Menifee

,

Community

Facilities

District

No.

2021-1

,

Special

Tax

,

2023

A

,

%

,

9/01/43

......

240,000

248,432

Community

Facilities

District

No.

2021-1

,

Special

Tax

,

2023

A

,

%

,

9/01/48

......

325,000

330,911

Community

Facilities

District

No.

2021-1

,

Special

Tax

,

2023

A

,

%

,

9/01/53

......

750,000

756,854

Community

Facilities

District

No.

2022-2

,

Special

Tax

,

2025

A

,

%

,

9/01/50

......

675,000

687,111

Community

Facilities

District

No.

2022-2

,

Special

Tax

,

2025

A

,

5.125 %

,

9/01/55

...

650,000

669,341

Community

Facilities

District

No.

2023-2

Improvement

Area

No.

,

Special

Tax

,

2025

A

,

%

,

9/01/45

..................................................

1,295,000

1,329,547

Community

Facilities

District

No.

2023-2

Improvement

Area

No.

,

Special

Tax

,

2025

A

,

%

,

9/01/50

..................................................

605,000

615,855

Community

Facilities

District

No.

2023-2

Improvement

Area

No.

,

Special

Tax

,

2025

A

,

%

,

9/01/55

..................................................

610,000

616,633

City

of

Mountain

House

,

Community

Facilities

District

No.

2024-1

Improvement

Area

No.

,

Special

Tax

,

2025

,

5.125 %

,

9/01/50

...............................

750,000

761,465

City

of

Newport

Beach

,

Assessment

District

No.

,

1915

Act,

Special

Assessment

,

2021

A

,

%

,

9/02/34

.

230,000

190,064

Assessment

District

No.

,

1915

Act,

Special

Assessment

,

2021

A

,

2.125 %

,

9/02/35

........................................................

235,000

192,265

Assessment

District

No.

,

1915

Act,

Special

Assessment

,

2021

A

,

2.125 %

,

9/02/36

........................................................

240,000

191,734

Assessment

District

No.

,

1915

Act,

Special

Assessment

,

2023

A

,

%

,

9/02/26

.

220,000

221,716

Assessment

District

No.

,

1915

Act,

Special

Assessment

,

2023

A

,

%

,

9/02/27

.

250,000

254,420

Assessment

District

No.

,

1915

Act,

Special

Assessment

,

2023

A

,

%

,

9/02/28

.

250,000

256,525

Assessment

District

No.

,

1915

Act,

Special

Assessment

,

2023

A

,

%

,

9/02/29

.

275,000

284,413

Assessment

District

No.

,

1915

Act,

Special

Assessment

,

2023

A

,

%

,

9/02/30

.

225,000

234,126

Assessment

District

No.

,

1915

Act,

Special

Assessment

,

2023

A

,

%

,

9/02/31

.

260,000

271,307

Assessment

District

No.

,

1915

Act,

Special

Assessment

,

2023

A

,

%

,

9/02/32

.

280,000

292,630

Assessment

District

No.

,

1915

Act,

Special

Assessment

,

2023

A

,

%

,

9/02/33

.

225,000

233,989

Assessment

District

No.

,

1915

Act,

Special

Assessment

,

2023

A

,

4.125 %

,

9/02/38

........................................................

620,000

632,561

Assessment

District

No.

,

1915

Act,

Special

Assessment

,

2023

A

,

%

,

9/02/43

.

715,000

743,789

City

of

Oakland

,

Community

Facilities

District

No.

2023-1

,

Special

Tax

,

2025

,

5.25 %

,

9/01/55

.........................................................

865,000

886,229

City

of

Ontario

,

Community

Facilities

District

No.

,

Special

Tax

,

2022

,

%

,

9/01/37

...........

350,000

370,407

Community

Facilities

District

No.

,

Special

Tax

,

2025

,

%

,

9/01/50

...........

1,000,000

1,014,072

City

of

Palo

Alto

,

University

Avenue

Off-Street

Parking

Assessment

District

,

1915

Act,

Special

Assessment

,

2012

,

Refunding

,

%

,

9/02/28

............................

895,000

899,147

Franklin

California

Tax-Free

Trust

Schedule

of

Investments

(unaudited)

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

a

a

#### Principal

#### Amount
a

#### Value
a

a

#### a
a

#### Municipal

#### Bonds
(continued)

#### California
(continued)

City

of

Palo

Alto,

(continued)

University

Avenue

Off-Street

Parking

Assessment

District

,

1915

Act,

Special

Assessment

,

2012

,

Refunding

,

%

,

9/02/29

............................

$

1,155,000

$

1,160,386

City

of

Pasadena

,

Water

,

Revenue

,

2020

A

,

Refunding

,

%

,

6/01/38

.............

1,480,000

1,619,408

City

of

Rancho

Cordova

,

Arista

Del

Sol

Community

Facilities

District

No.

2022-1

Improvement

Area

No.

,

Special

Tax

,

2023

,

%

,

9/01/38

......................................

250,000

266,366

Ranch

Community

Facilities

District

No.

2021-1

Improvement

Area

No.

,

Special

Tax

,

2025

,

%

,

9/01/50

............................................

855,000

863,082

Ranch

Community

Facilities

District

No.

2021-1

Improvement

Area

No.

,

Special

Tax

,

2025

,

%

,

9/01/55

............................................

585,000

588,668

City

of

Rialto

,

Community

Facilities

District

No.

2020-1

,

Special

Tax

,

2023

,

%

,

9/01/38

1,445,000

1,550,467

City

of

Riverside

,

Water

,

Revenue

,

2019

A

,

Refunding

,

%

,

10/01/37

.............

7,295,000

7,816,894

City

of

Roseville

,

Amoruso

Ranch

Community

Facilities

District

No.

Improvement

Area

No.

,

Special

Tax

,

2025

,

%

,

9/01/45

..............................

1,580,000

1,604,925

City

of

Sacramento

,

North

Natomas

Community

Facilities

District

No.

,

Special

Tax

,

2015

F

,

Refunding

,

%

,

9/01/26

....................................................

615,000

615,823

North

Natomas

Community

Facilities

District

No.

,

Special

Tax

,

2015

F

,

Refunding

,

%

,

9/01/28

....................................................

1,220,000

1,224,692

North

Natomas

Community

Facilities

District

No.

,

Special

Tax

,

2015

F

,

Refunding

,

%

,

9/01/29

....................................................

1,555,000

1,561,015

North

Natomas

Community

Facilities

District

No.

,

Special

Tax

,

2015

F

,

Refunding

,

%

,

9/01/31

....................................................

1,800,000

1,806,663

Transient

Occupancy

Tax

,

Revenue

,

2018

A

,

%

,

6/01/34

....................

1,485,000

1,565,132

Transient

Occupancy

Tax

,

Revenue

,

2018

A

,

%

,

6/01/35

....................

2,000,000

2,103,752

Transient

Occupancy

Tax

,

Revenue

,

2018

A

,

%

,

6/01/37

....................

2,250,000

2,353,687

City

of

Vernon

,

Electric

System

,

Revenue

,

2021

A

,

%

,

10/01/26

................

1,670,000

1,694,905

City

of

Woodland

,

Community

Facilities

District

No.

2004-1

,

Special

Tax

,

2019

,

%

,

9/01/36

.........................................................

1,505,000

1,551,498

a

CMFA

Special

Finance

Agency

VIII

,

Elan

Huntington

Beach

,

Revenue,

Junior

Lien

,

144A,

2021

,

%

,

8/01/47

.........................................

2,105,000

1,923,940

Compton

Community

Redevelopment

Agency

,

Successor

Agency

,

Tax

Allocation

,

2022

A

,

Refunding

,

AG

Insured

,

%

,

8/01/37

...

4,090,000

4,549,218

Successor

Agency

,

Tax

Allocation

,

2022

A

,

Refunding

,

AG

Insured

,

%

,

8/01/42

...

3,115,000

3,314,166

County

of

El

Dorado

,

Community

Facilities

District

No.

2014-1

,

Special

Tax

,

2023

,

%

,

9/01/38

........

500,000

535,156

Community

Facilities

District

No.

2014-1

,

Special

Tax

,

2023

,

%

,

9/01/43

........

1,000,000

1,030,399

Community

Facilities

District

No.

2014-1

,

Special

Tax

,

2025

,

5.25 %

,

9/01/55

......

2,000,000

2,056,832

County

of

Sacramento

,

Airport

System

,

Revenue,

Sub.

Lien

,

2016

B

,

Refunding

,

%

,

7/01/35

...........

1,000,000

1,012,141

Airport

System

,

Revenue,

Sub.

Lien

,

2016

B

,

Refunding

,

%

,

7/01/36

...........

2,000,000

2,022,877

County

of

San

Diego

,

Community

Facilities

District

No.

2008-01

Area

No.

,

Special

Tax

,

2020

A

,

%

,

9/01/37

........................................................

175,000

175,918

Community

Facilities

District

No.

2008-01

Area

No.

,

Special

Tax

,

2020

A

,

%

,

9/01/38

........................................................

375,000

375,788

Community

Facilities

District

No.

2008-01

Area

No.

,

Special

Tax

,

2020

A

,

%

,

9/01/40

........................................................

115,000

113,025

Community

Facilities

District

No.

2008-01

Area

No.

,

Special

Tax

,

2020

A

,

%

,

9/01/35

........................................................

50,000

50,380

a

CSCDA

Community

Improvement

Authority

,

1818

Platinum

Triangle-Anaheim

,

Revenue,

Senior

Lien

,

144A,

2021

,

3.35 %

,

4/01/47

........................................................

9,500,000

8,107,314

Oceanaire

Apartments

,

Revenue

,

144A,

2021

,

3.2 %

,

9/01/46

..............

7,500,000

5,359,736

Towne

at

Glendale

Apartments

,

Revenue

,

144A,

2022

B

,

%

,

9/01/37

..........

10,300,000

10,503,562

Franklin

California

Tax-Free

Trust

Schedule

of

Investments

(unaudited)

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

a

#### Principal

#### Amount
a

#### Value
a

a

#### a
a

#### Municipal

#### Bonds
(continued)

#### California
(continued)

Del

Mar

Race

Track

Authority

,

Revenue

,

2015

,

Refunding

,

%

,

10/01/28

................................

$

1,925,000

$

1,930,938

Revenue

,

2015

,

Refunding

,

%

,

10/01/30

................................

1,125,000

1,128,496

Desert

Sands

Unified

School

District

,

GO

,

2025

,

%

,

8/01/50

..................

8,000,000

7,690,289

Dublin

Unified

School

District

,

GO

,

2016

,

Refunding

,

%

,

8/01/32

...............

3,220,000

3,266,749

East

Bay

Municipal

Utility

District

,

Wastewater

System

,

Revenue

,

2014

A

,

Refunding

,

%

,

6/01/29

......................................................

1,000,000

1,099,886

East

Whittier

City

School

District

,

GO

,

2024

A

,

4.125 %

,

8/01/54

.................

2,500,000

2,386,101

Eastern

Municipal

Water

District

,

Community

Facilities

District

No.

2019-86

,

Special

Tax

,

2023

,

%

,

9/01/43

.............................................

1,085,000

1,119,401

El

Dorado

Irrigation

District

,

Revenue

,

2016

C

,

Pre-Refunded

,

%

,

3/01/31

........

2,500,000

2,511,016

d

Escondido

Union

High

School

District

,

GO

,

2009

,

AG

Insured

,

3.28 %,

8/01/36

......

4,225,000

3,001,936

Folsom

Ranch

Financing

Authority

,

City

of

Folsom

Community

Facilities

District

No.

,

Special

Tax

,

2024

,

%

,

9/01/44

.......................................

1,000,000

1,031,426

Foothill-Eastern

Transportation

Corridor

Agency

,

Revenue

,

2013

A

,

Refunding

,

5.8 %

,

1/15/26

..............................

3,760,000

3,764,036

Revenue

,

2013

A

,

Refunding

,

5.9 %

,

1/15/27

..............................

6,395,000

6,603,482

Revenue

,

2013

A

,

Refunding

,

AG

Insured

,

5.3 %

,

1/15/29

....................

19,895,000

21,594,901

Golden

State

Tobacco

Securitization

Corp.

,

Revenue

,

2018

,

Pre-Refunded

,

%

,

6/01/35

.........................................................

9,000,000

9,589,455

Golden

Valley

Unified

School

District

,

Community

Facilities

District

No.

2017-1

Improvement

Area

No.

,

Special

Tax

,

2025

,

%

,

9/01/45

....................

725,000

730,854

Hemet

Unified

School

District

,

Special

Tax

,

2025

,

%

,

9/01/50

.......................................

1,190,000

1,211,249

Community

Facilities

District

No.

2023-3

,

Special

Tax

,

2025

,

%

,

9/01/45

........

1,000,000

1,034,551

Imperial

Irrigation

District

,

Electric

System

,

Revenue

,

2019

,

Refunding

,

%

,

11/01/34

...................

1,100,000

1,194,946

Electric

System

,

Revenue

,

2019

,

Refunding

,

%

,

11/01/37

...................

3,885,000

4,160,870

Independent

Cities

Finance

Authority

,

Augusta

Communities

LLC

,

Revenue

,

2022

A

,

Refunding

,

5.25 %

,

5/15/56

.......

2,010,000

2,062,694

Millennium

Housing

LLC

,

Revenue

,

2021

,

Refunding

,

%

,

5/15/41

.............

1,395,000

1,189,417

Millennium

Housing

LLC

,

Revenue

,

2022

,

Refunding

,

3.7 %

,

9/15/32

............

745,000

761,265

San

Juan

Mobile

Estates

,

Revenue

,

2015

,

Refunding

,

%

,

8/15/30

.............

1,345,000

1,346,947

Irvine

Unified

School

District

,

Special

Tax

,

2020

A

,

%

,

9/01/30

......................................

1,900,000

2,057,291

Special

Tax

,

2020

A

,

%

,

9/01/31

......................................

1,830,000

1,970,355

Special

Tax

,

2020

A

,

%

,

9/01/32

......................................

750,000

803,285

Special

Tax

,

2020

A

,

%

,

9/01/33

......................................

2,095,000

2,145,753

Special

Tax

,

2020

A

,

%

,

9/01/35

......................................

1,450,000

1,477,477

Special

Tax

,

2020

A

,

%

,

9/01/36

......................................

2,625,000

2,661,895

Special

Tax

,

2020

A

,

%

,

9/01/37

......................................

2,695,000

2,720,727

Special

Tax

,

2020

A

,

%

,

9/01/39

......................................

2,890,000

2,874,124

Community

Facilities

District

No.

09-1

,

Special

Tax

,

2019

A

,

%

,

9/01/29

........

185,000

198,430

Community

Facilities

District

No.

09-1

,

Special

Tax

,

2019

A

,

%

,

9/01/36

........

265,000

277,816

Community

Facilities

District

No.

09-1

,

Special

Tax

,

2019

A

,

%

,

9/01/37

........

280,000

283,093

Community

Facilities

District

No.

09-1

,

Special

Tax

,

2019

A

,

%

,

9/01/38

........

270,000

271,667

Community

Facilities

District

No.

09-1

,

Special

Tax

,

2019

A

,

%

,

9/01/39

........

315,000

315,494

Community

Facilities

District

No.

09-1

,

Special

Tax

,

2019

A

,

%

,

9/01/40

........

350,000

344,744

Jurupa

Community

Services

District

,

Community

Facilities

District

No.

,

Special

Tax

,

2025

A

,

%

,

9/01/45

..........

1,000,000

1,025,111

Community

Facilities

District

No.

,

Special

Tax

,

2025

A

,

%

,

9/01/50

..........

1,000,000

1,014,845

Jurupa

Unified

School

District

,

GO

,

2019

C

,

5.25 %

,

8/01/43

...................

14,675,000

15,276,698

Lake

Elsinore

Unified

School

District

,

Community

Facilities

District

No.

2007-2

,

Special

Tax

,

2021

,

%

,

9/01/45

.............................................

760,000

683,871

Lammersville

Joint

Unified

School

District

,

Community

Facilities

District

No.

2002

,

Special

Tax

,

2017

,

Refunding

,

%

,

9/01/33

...............................

1,575,000

1,617,610

Franklin

California

Tax-Free

Trust

Schedule

of

Investments

(unaudited)

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

a

a

#### Principal

#### Amount
a

#### Value
a

a

#### a
a

#### Municipal

#### Bonds
(continued)

#### California
(continued)

Los

Angeles

County

Metropolitan

Transportation

Authority

,

Sales

Tax

,

Revenue

,

2017

A

,

%

,

7/01/39

...............................

$

7,520,000

$

7,763,132

Sales

Tax

,

Revenue

,

2021

A

,

%

,

6/01/35

...............................

1,485,000

1,579,213

Sales

Tax

,

Revenue,

Senior

Lien

,

2021

A

,

%

,

7/01/38

......................

1,910,000

2,131,180

Los

Angeles

Department

of

Water

&

Power

,

Power

System

,

Revenue

,

2017

B

,

Refunding

,

%

,

7/01/34

...................

23,350,000

23,812,902

Power

System

,

Revenue

,

2020

B

,

Refunding

,

%

,

7/01/39

...................

2,860,000

3,053,616

Power

System

,

Revenue

,

2024

C

,

Refunding

,

%

,

7/01/45

...................

2,300,000

2,412,219

Power

System

,

Revenue

,

2024

D

,

%

,

7/01/47

............................

2,900,000

3,026,054

Water

System

,

Revenue

,

2016

A

,

Refunding

,

%

,

7/01/37

...................

10,450,000

10,450,000

Water

System

,

Revenue

,

2018

B

,

Refunding

,

%

,

7/01/34

...................

2,500,000

2,622,040

Water

System

,

Revenue

,

2018

B

,

Refunding

,

%

,

7/01/38

...................

4,500,000

4,682,718

Water

System

,

Revenue

,

2020

C

,

Refunding

,

%

,

7/01/33

...................

1,410,000

1,535,333

Water

System

,

Revenue

,

2020

C

,

Refunding

,

%

,

7/01/39

...................

10,535,000

11,248,198

Los

Angeles

Unified

School

District

,

GO

,

2020

RYQ

,

%

,

7/01/38

.........................................

5,000,000

5,167,815

GO

,

2024

A

,

Refunding

,

%

,

7/01/26

...................................

13,000,000

13,184,311

Menifee

Union

School

District

,

GO

,

2025

A

,

4.125 %

,

8/01/54

.........................................

2,500,000

2,378,296

Community

Facilities

District

No.

2011-1

Improvement

Area

No.

,

Special

Tax

,

2021

,

%

,

9/01/41

....................................................

800,000

777,078

Community

Facilities

District

No.

2011-1

Improvement

Area

No.

,

Special

Tax

,

2021

,

%

,

9/01/36

....................................................

445,000

452,239

Community

Facilities

District

No.

2011-1

Improvement

Area

No.

,

Special

Tax

,

2021

,

%

,

9/01/46

....................................................

875,000

801,017

Community

Facilities

District

No.

2011-1

Improvement

Area

No.

,

Special

Tax

,

2022

,

%

,

9/01/37

....................................................

1,100,000

1,176,435

Menifee

Union

School

District

Public

Financing

Authority

,

Special

Tax

,

2017

A

,

%

,

9/01/28

......................................

1,250,000

1,271,096

Special

Tax

,

2017

A

,

%

,

9/01/30

......................................

1,550,000

1,576,576

Metropolitan

Water

District

of

Southern

California

,

Revenue

,

2020

C

,

Refunding

,

%

,

7/01/38

.........................................................

12,500,000

13,730,492

Mid-Peninsula

Water

District

,

COP

,

2025

,

4.125 %

,

12/01/50

........................................

5,965,000

5,739,639

COP

,

2025

,

4.25 %

,

12/01/54

.........................................

7,060,000

6,857,443

Moreno

Valley

Unified

School

District

,

Community

Facilities

District

No.

2016-1

,

Special

Tax

,

2020

,

%

,

9/01/31

........

120,000

122,531

Community

Facilities

District

No.

2016-1

,

Special

Tax

,

2020

,

%

,

9/01/32

........

130,000

132,371

Community

Facilities

District

No.

2016-1

,

Special

Tax

,

2020

,

%

,

9/01/33

........

140,000

142,063

Community

Facilities

District

No.

2016-1

,

Special

Tax

,

2020

,

2.625 %

,

9/01/38

.....

200,000

165,866

Community

Facilities

District

No.

2022-1

,

Special

Tax

,

2025

,

%

,

9/01/45

........

750,000

761,252

Community

Facilities

District

No.

2022-1

,

Special

Tax

,

2025

,

5.125 %

,

9/01/50

.....

925,000

940,428

Community

Facilities

District

No.

2023-1

,

Special

Tax

,

2025

,

%

,

9/01/45

........

1,455,000

1,484,301

Mt.

San

Antonio

Community

College

District

,

GO

,

2013

A

,

5.875 %

,

8/01/28

........

6,000,000

6,409,994

Orange

County

Community

Facilities

District

,

Community

Facilities

District

No.

2023-1

,

Special

Tax

,

2023

A

,

%

,

8/15/38

......

1,360,000

1,463,620

Community

Facilities

District

No.

2023-1

,

Special

Tax

,

2023

A

,

5.25 %

,

8/15/43

....

1,350,000

1,421,285

Orange

Unified

School

District

,

GO

,

2022

,

%

,

8/01/41

.......................

2,130,000

2,354,230

Oro

Grande

Elementary

School

District

,

COP

,

2020

,

Refunding

,

%

,

9/15/29

....................................

2,595,000

2,641,799

COP

,

2020

,

Refunding

,

%

,

9/15/30

....................................

2,700,000

2,743,533

COP

,

2020

,

Refunding

,

%

,

9/15/31

....................................

2,805,000

2,843,755

COP

,

2020

,

Refunding

,

%

,

9/15/32

....................................

1,600,000

1,618,368

Perris

Joint

Powers

Authority

,

Special

Tax

,

2025

,

%

,

9/01/45

..................

2,825,000

2,877,865

Port

of

Oakland

,

Revenue

,

2017

D

,

%

,

11/01/28

.......................................

2,195,000

2,277,821

Revenue

,

2017

D

,

Pre-Refunded

,

%

,

11/01/28

...........................

55,000

57,428

Franklin

California

Tax-Free

Trust

Schedule

of

Investments

(unaudited)

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

a

#### Principal

#### Amount
a

#### Value
a

a

#### a
a

#### Municipal

#### Bonds
(continued)

#### California
(continued)

Poway

Unified

School

District

,

Community

Facilities

District

No.

Area

A

,

Special

Tax

,

2020

,

AG

Insured

,

%

,

9/01/32

........................................................

$

100,000

$

109,777

Community

Facilities

District

No.

Area

A

,

Special

Tax

,

2020

,

AG

Insured

,

%

,

9/01/34

........................................................

500,000

519,825

Community

Facilities

District

No.

Area

A

,

Special

Tax

,

2020

,

AG

Insured

,

%

,

9/01/36

........................................................

715,000

737,745

Community

Facilities

District

No.

Area

A

,

Special

Tax

,

2020

,

AG

Insured

,

%

,

9/01/40

........................................................

965,000

976,135

Poway

Unified

School

District

Public

Financing

Authority

,

Special

Tax

,

2017

A

,

Refunding

,

%

,

9/01/27

.............................

1,375,000

1,395,127

Special

Tax

,

2017

A

,

Refunding

,

%

,

9/01/30

.............................

2,225,000

2,254,583

River

Islands

Public

Financing

Authority

,

Community

Facilities

District

No.

2016-1

,

Special

Tax

,

2025

,

AG

Insured

,

%

,

9/01/45

600,000

642,310

Community

Facilities

District

No.

2016-1

,

Special

Tax

,

2025

,

AG

Insured

,

%

,

9/01/50

815,000

858,010

Community

Facilities

District

No.

2020-1

Public

Improvements

,

Special

Tax

,

2025

,

AG

Insured

,

%

,

9/01/45

..............................................

1,100,000

1,177,569

Community

Facilities

District

No.

2020-1

Public

Improvements

,

Special

Tax

,

2025

,

AG

Insured

,

%

,

9/01/50

..............................................

1,950,000

2,052,906

Riverside

County

Transportation

Commission

,

Sales

Tax

,

Revenue

,

2017

B

,

Refunding

,

%

,

6/01/36

.......................

9,750,000

9,911,846

Sales

Tax

,

Revenue

,

2017

B

,

Refunding

,

%

,

6/01/39

.......................

5,000,000

5,206,642

Riverside

Unified

School

District

,

Special

Tax

,

2025

,

%

,

9/01/45

.......................................

1,400,000

1,435,156

Community

Facilities

District

No.

,

Special

Tax

,

2021

,

%

,

9/01/45

...........

375,000

344,096

Community

Facilities

District

No.

,

Special

Tax

,

2025

A

,

%

,

9/01/40

..........

1,500,000

1,571,080

Community

Facilities

District

No.

,

Special

Tax

,

2025

A

,

%

,

9/01/45

..........

1,780,000

1,822,207

a

RMA

Capital

Series

Trust

,

Revenue

,

144A,

2022-1

,

A

,

5.67 %

,

8/01/58

............

5,000,000

4,700,352

RNR

School

Financing

Authority

,

Community

Facilities

District

No.

92-1

,

Special

Tax

,

2017

A

,

BAM

Insured

,

%

,

9/01/27

.....................................

1,035,000

1,052,213

Romoland

School

District

,

Community

Facilities

District

No.

2004-1

,

Special

Tax

,

2015

,

Refunding

,

%

,

9/01/27

1,000,000

1,001,301

Community

Facilities

District

No.

2004-1

,

Special

Tax

,

2015

,

Refunding

,

%

,

9/01/28

1,960,000

1,962,380

Community

Facilities

District

No.

2004-1

,

Special

Tax

,

2015

,

Refunding

,

%

,

9/01/29

2,130,000

2,132,616

Community

Facilities

District

No.

2004-1

,

Special

Tax

,

2015

,

Refunding

,

%

,

9/01/30

2,310,000

2,312,812

Community

Facilities

District

No.

2004-1

,

Special

Tax

,

2015

,

Refunding

,

%

,

9/01/31

2,495,000

2,497,988

Community

Facilities

District

No.

2004-1

,

Special

Tax

,

2015

,

Refunding

,

%

,

9/01/32

2,690,000

2,693,229

Community

Facilities

District

No.

2017-1

Improvement

Area

No.

,

Special

Tax

,

2023

,

%

,

9/01/38

....................................................

250,000

269,030

Community

Facilities

District

No.

2017-1

Improvement

Area

No.

,

Special

Tax

,

2023

,

%

,

9/01/43

....................................................

440,000

457,420

Community

Facilities

District

No.

2020-2

Improvement

Area

No.

,

Special

Tax

,

2025

,

%

,

9/01/55

....................................................

1,800,000

1,825,560

Community

Facilities

District

No.

2023-1

Improvement

Area

No.

,

Special

Tax

,

2025

,

%

,

9/01/50

....................................................

1,000,000

1,017,942

Community

Facilities

District

No.

2023-1

Improvement

Area

No.

,

Special

Tax

,

2025

,

%

,

9/01/50

....................................................

840,000

855,071

Community

Facilities

District

No.

91-1

,

Special

Tax

,

2017

,

Refunding

,

%

,

9/01/36

.

1,130,000

1,156,222

Root

Creek

Water

District

,

Community

Facilities

District

No.

2016-1

Improvement

Area

No.

,

Special

Tax

,

2021

,

%

,

9/01/41

....................................................

430,000

416,244

Community

Facilities

District

No.

2016-1

Improvement

Area

No.

,

Special

Tax

,

2021

,

%

,

9/01/46

....................................................

1,300,000

1,177,218

Sacramento

Municipal

Utility

District

,

Revenue

,

2019

G

,

%

,

8/15/38

.......................................

2,695,000

2,897,357

Revenue

,

2023

K

,

%

,

8/15/39

........................................

1,000,000

1,142,027

San

Diego

Community

College

District

,

GO

,

2024

,

%

,

8/01/55

..............

7,000,000

7,445,215

Franklin

California

Tax-Free

Trust

Schedule

of

Investments

(unaudited)

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

a

a

#### Principal

#### Amount
a

#### Value
a

a

#### a
a

#### Municipal

#### Bonds
(continued)

#### California
(continued)

San

Diego

County

Regional

Airport

Authority

,

Revenue

,

2019

A

,

Refunding

,

%

,

7/01/35

...............................

$

7,500,000

$

8,117,044

Revenue

,

2019

A

,

Refunding

,

%

,

7/01/39

...............................

6,500,000

6,922,936

Revenue

,

2019

A

,

Refunding

,

%

,

7/01/44

...............................

4,000,000

4,153,674

Revenue

,

2021

B

,

%

,

7/01/30

........................................

2,260,000

2,469,966

Revenue,

Senior

Lien

,

2023

B

,

5.25 %

,

7/01/38

............................

2,500,000

2,784,065

Revenue,

Senior

Lien

,

2023

B

,

%

,

7/01/39

..............................

5,000,000

5,451,141

Revenue,

Senior

Lien

,

2023

B

,

%

,

7/01/40

..............................

7,000,000

7,549,606

San

Diego

Unified

School

District

,

GO

,

2019

L

,

%

,

7/01/38

...................

605,000

619,828

San

Francisco

Bay

Area

Rapid

Transit

District

,

GO

,

2020

,

%

,

8/01/33

........

2,250,000

2,370,751

San

Francisco

City

&

County

Airport

Comm-San

Francisco

International

Airport

,

Revenue

,

2019

A

,

Refunding

,

%

,

5/01/36

...............................

4,000,000

4,199,876

Revenue,

Second

Series

,

2019

E

,

%

,

5/01/35

............................

2,000,000

2,107,628

Revenue,

Second

Series

,

2019

H

,

Refunding

,

%

,

5/01/30

...................

2,895,000

3,086,066

Revenue,

Second

Series

,

2024

A

,

Refunding

,

5.25 %

,

5/01/44

.................

5,000,000

5,319,955

San

Francisco

City

&

County

Public

Utilities

Commission

,

Wastewater

,

Revenue

,

2018

A

,

%

,

10/01/43

...................................................

9,220,000

9,224,413

San

Francisco

City

&

County

Redevelopment

Agency

Successor

Agency

,

Mission

Bay

South

Redevelopment

Area

Tax

Increment

Financing

District

,

Tax

Allocation

,

2014

A

,

%

,

8/01/30

......................................

1,080,000

1,081,416

Mission

Bay

South

Redevelopment

Area

Tax

Increment

Financing

District

,

Tax

Allocation

,

2014

A

,

%

,

8/01/34

......................................

1,110,000

1,111,092

San

Jacinto

Unified

School

District

,

Community

Facilities

District

No.

2022-1

Improvement

Area

No.

,

Special

Tax

,

2023

,

5.25 %

,

9/01/48

.................

350,000

362,062

San

Jacinto

Unified

School

District

Financing

Authority

,

Community

Facilities

District

No.

2003-2

,

Special

Tax

,

2019

,

%

,

9/01/36

..............................

1,200,000

1,241,762

d

San

Joaquin

Hills

Transportation

Corridor

Agency

,

Revenue

,

1997

A

,

Refunding

,

NATL

Insured

,

1.45 %,

1/15/26

.............................................

19,000,000

18,988,682

San

Juan

Unified

School

District

,

GO

,

2020

,

%

,

8/01/34

......................

2,765,000

2,847,427

d

San

Mateo

County

Community

College

District

,

GO

,

2005

A

,

NATL

Insured

,

2.65 %,

9/01/30

.........................................................

5,000,000

4,424,727

San

Rafael

City

Elementary

School

District

,

GO

,

2022

B

,

%

,

8/01/54

............

10,000,000

9,311,607

Sierra

View

Local

Health

Care

District

,

Revenue

,

2020

,

Refunding

,

%

,

7/01/26

.................................

100,000

100,407

Revenue

,

2020

,

Refunding

,

%

,

7/01/28

.................................

660,000

689,477

Revenue

,

2020

,

Refunding

,

%

,

7/01/30

.................................

520,000

561,005

Sonoma

Community

Development

Agency

Successor

Agency

,

Tax

Allocation,

Sub.

Lien

,

2015

,

Refunding

,

NATL

Insured

,

%

,

6/01/29

.........

1,000,000

1,011,815

Tax

Allocation,

Sub.

Lien

,

2015

,

Refunding

,

NATL

Insured

,

%

,

6/01/33

.........

1,200,000

1,212,857

Southern

California

Public

Power

Authority

,

c

City

of

Anaheim

Electric

System

,

Revenue

,

2024

A

,

Mandatory

Put

,

%

,

9/01/30

..

4,355,000

4,627,762

Los

Angeles

Department

of

Water

&

Power

Power

System

,

Revenue

,

2025-1

,

%

,

7/01/53

........................................................

10,000,000

10,464,225

State

of

California

,

GO

,

Refunding

,

%

,

11/01/29

.........................................

5,000,000

5,503,048

GO

,

%

,

4/01/30

..................................................

3,725,000

4,038,533

GO

,

Refunding

,

%

,

11/01/30

.........................................

15,540,000

17,445,812

GO

,

5.75 %

,

10/01/31

...............................................

15,000,000

16,344,885

GO

,

Refunding

,

%

,

10/01/32

.........................................

5,780,000

6,315,812

GO

,

%

,

8/01/45

..................................................

10,000,000

10,894,359

GO

,

2017

,

%

,

11/01/28

.............................................

7,230,000

7,581,682

Temecula

Public

Financing

Authority

,

Community

Facilities

District

No.

23-02

,

Special

Tax

,

2025

,

%

,

9/01/45

.............................................

2,300,000

2,354,161

Tobacco

Securitization

Authority

of

Northern

California

,

Sacramento

County

Tobacco

Securitization

Corp.

,

Revenue,

Senior

Lien

,

2021

A

,

,

Refunding

,

%

,

6/01/38

....

1,300,000

1,297,923

Franklin

California

Tax-Free

Trust

Schedule

of

Investments

(unaudited)

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

a

#### Principal

#### Amount
a

#### Value
a

a

#### a
a

#### Municipal

#### Bonds
(continued)

#### California
(continued)

Tobacco

Securitization

Authority

of

Southern

California

,

San

Diego

County

Tobacco

Asset

Securitization

Corp.

,

Revenue

,

2019

A

,

,

Refunding

,

%

,

6/01/36

............................................

$

1,600,000

$

1,671,533

San

Diego

County

Tobacco

Asset

Securitization

Corp.

,

Revenue

,

2019

A

,

,

Refunding

,

%

,

6/01/38

............................................

1,500,000

1,549,402

Tracy

Community

Facilities

District

,

City

of

Tracy

Community

Facilities

District

No.

2016-01

Improvement

Area

No.

,

Special

Tax

,

2023

,

5.25 %

,

9/01/38

...................................

600,000

642,643

City

of

Tracy

Community

Facilities

District

No.

2016-01

Improvement

Area

No.

,

Special

Tax

,

2023

,

5.625 %

,

9/01/43

...................................

1,350,000

1,433,896

Transbay

Joint

Powers

Authority

,

Transbay

Redevelopment

Project

Tax

Increment

Re-Development

Project

,

Tax

Allocation,

Senior

Lien

,

2020

A

,

%

,

10/01/32

...........................

500,000

525,152

Transbay

Redevelopment

Project

Tax

Increment

Re-Development

Project

,

Tax

Allocation,

Senior

Lien

,

2020

A

,

%

,

10/01/33

...........................

1,735,000

1,816,575

Transbay

Redevelopment

Project

Tax

Increment

Re-Development

Project

,

Tax

Allocation,

Senior

Lien

,

2020

A

,

%

,

10/01/34

...........................

1,050,000

1,096,156

University

of

California

,

Revenue

,

2016

K

,

%

,

5/15/37

........................................

1,000,000

1,004,991

Revenue

,

2024

BS

,

Refunding

,

%

,

5/15/43

..............................

2,000,000

2,186,308

Revenue

,

2025

CC

,

%

,

5/15/55

......................................

5,000,000

4,690,012

Val

Verde

Unified

School

District

,

Community

Facilities

District

No.

2018-2

Improvement

Area

No.

,

Special

Tax

,

2023

,

%

,

9/01/43

....................................................

555,000

573,852

Community

Facilities

District

No.

2018-2

Improvement

Area

No.

,

Special

Tax

,

2023

,

%

,

9/01/48

....................................................

625,000

637,084

Community

Facilities

District

No.

2018-2

Improvement

Area

No.

,

Special

Tax

,

2023

,

%

,

9/01/54

....................................................

1,000,000

1,014,263

Washington

Township

Health

Care

District

,

Revenue

,

2020

A

,

Refunding

,

%

,

7/01/32

...............................

800,000

770,231

Revenue

,

2020

A

,

Refunding

,

%

,

7/01/33

...............................

275,000

280,347

Revenue

,

2020

A

,

Refunding

,

%

,

7/01/34

...............................

870,000

820,001

Revenue

,

2020

A

,

Refunding

,

%

,

7/01/35

...............................

300,000

302,741

Revenue

,

2020

A

,

Refunding

,

%

,

7/01/36

...............................

1,400,000

1,273,207

Revenue

,

2020

A

,

Refunding

,

%

,

7/01/37

...............................

725,000

648,462

Revenue

,

2020

A

,

Refunding

,

%

,

7/01/38

...............................

750,000

659,635

Revenue

,

2023

A

,

%

,

7/01/40

........................................

400,000

413,451

Revenue

,

2023

A

,

%

,

7/01/41

........................................

375,000

384,134

Revenue

,

2023

A

,

%

,

7/01/42

........................................

325,000

330,482

Revenue

,

2023

A

,

%

,

7/01/43

........................................

275,000

277,649

West

Basin

Municipal

Water

District

,

Revenue

,

2016

A

,

Refunding

,

%

,

8/01/33

...............................

2,630,000

2,633,272

Revenue

,

2021

A

,

Refunding

,

%

,

8/01/34

...............................

1,635,000

1,862,739

1,317,883,066

#### Florida

#### 0.7%
a

,d

Capital

Trust

Authority

,

Gulf

Coast

Portfolio

Obligated

Group

,

Revenue

,

144A,

2024

,

Refunding

,

5.31 %,

3/01/29

...........................................

11,700,000

9,933,190

#### Virgin

#### Islands

#### 0.4%
Virgin

Islands

Transportation

&

Infrastructure

Corp.

,

Revenue

,

2025

,

Refunding

,

%

,

9/01/42

.................................

1,250,000

1,356,602

Revenue

,

2025

,

Refunding

,

%

,

9/01/43

.................................

1,500,000

1,613,538

Revenue

,

2025

,

Refunding

,

%

,

9/01/44

.................................

1,715,000

1,830,545

4,800,685

Franklin

California

Tax-Free

Trust

Schedule

of

Investments

(unaudited)

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

See

A

bbreviations

on

.

a

a

#### Principal

#### Amount
a

#### Value
a

a

#### a
a

#### Municipal

#### Bonds
(continued)

#### U.S.

#### Territories

#### 0.2%

#### Guam

#### 0.2%
Guam

Government

Waterworks

Authority

,

Revenue

,

2020

A

,

%

,

1/01/50

.........

$

2,810,000

$

2,827,591

#### Total

#### Municipal

#### Bonds

#### (Cost

#### $

#### 1,331,738,923

####)
...................................

#### 1,345,246,507
a

#### a
a

a

#### Short

#### Term

#### Investments

#### 2.3%

#### Municipal

#### Bonds

#### 2.3%

#### California

#### 2.3%
e

Anaheim

Housing

&

Public

Improvements

Authority

,

City

of

Anaheim

Water

System

,

Revenue,

Second

Lien

,

2024

A

,

LOC

Bank

of

America

NA

,

Daily

VRDN

and

Put

,

%

,

10/01/54

........................................................

3,000,000

3,000,000

e

Eastern

Municipal

Water

District

,

Revenue

,

2018

A

,

Refunding

,

SPA

Bank

of

America

NA

,

Daily

VRDN

and

Put

,

1.55 %

,

7/01/46

................................

2,100,000

2,100,000

e

Irvine

Ranch

Water

District

,

Special

Assessment

,

2009

B

,

LOC

Bank

of

America

NA

,

Daily

VRDN

and

Put

,

%

,

10/01/41

....................................

14,380,000

14,380,000

e

Regents

of

the

University

of

California

,

Medical

Center

,

Revenue

,

2007

,

Refunding

,

Daily

VRDN

and

Put

,

1.75 %

,

5/15/32

...................................

2,700,000

2,700,000

e

University

of

California

,

Revenue

,

2013

,

Daily

VRDN

and

Put

,

1.7 %

,

5/15/48

...

9,300,000

9,300,000

31,480,000

#### Total

#### Municipal

#### Bonds

#### (Cost

#### $

#### 31,480,000

####)
......................................

#### 31,480,000

#### Total

#### Short

#### Term

#### Investments

#### (Cost

#### $

#### 31,480,000

####)
................................

#### 31,480,000

#### a

#### Total

#### Investments

#### (Cost

#### $

#### 1,363,218,923

####)
98.7 #### %
..................................

#### $1,376,726,507

#### Other

#### Assets,

#### less

#### Liabilities
1.3 #### %
.............................................

#### 18,938,575

#### Net

#### Assets

#### 100.0%

#### ...........................................................

#### $1,395,665,082
a

Security

was

purchased

pursuant

to

Rule

144A

or

Regulation

S

under

the

Securities

Act

of

1933. 144A

securities

may

be

sold

in

transactions

exempt

from

registration

only

to

qualified

institutional

buyers

or

in

a

public

offering

registered

under

the

Securities

Act

of

1933. Regulation

S

securities

cannot

be

sold

in

the

United

States

without

either

an

effective

registration

statement

filed

pursuant

to

the

Securities

Act

of

1933,

or

pursuant

to

an

exemption

from

registration.

At

December

31,

2025,

the

aggregate

value

of

these

securities

was

$123,402,184,

representing

8.8%

of

net

assets.

b

The

coupon

rate

shown

represents

the

rate

at

period

end.

c

The

maturity

date

shown

represents

the

mandatory

put

date.

d

The

rate

shown

represents

the

yield

at

period

end.

e

Variable

rate

demand

notes

(VRDN)

are

obligations

which

contain

a

floating

or

variable

interest

rate

adjustment

formula

and

an

unconditional

right

of

demand

to

receive

pay-

ment

of

the

principal

balance

plus

accrued

interest

at

specified

dates.

Unless

otherwise

noted,

the

coupon

rate

is

determined

based

on

factors

including

supply

and

demand,

underlying

credit,

tax

treatment,

and

current

short

term

rates.

The

coupon

rate

shown

represents

the

rate

at

period

end.

Franklin

California

Tax-Free

Trust

Financial

Statements

Statement

of

Assets

and

Liabilities

December

31,

2025

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

#### Franklin

#### California

#### Intermediate-

#### Term

#### Tax-Free

#### Income

#### Fund
Assets:

Investments

in

securities:

Cost

-

Unaffiliated

issuers

...................................................................

$1,363,218,923

Value

-

Unaffiliated

issuers

..................................................................

$1,376,726,507

Cash

....................................................................................

6,437,620

Receivables:

Capital

shares

sold

........................................................................

2,492,282

Interest

.................................................................................

17,130,203

Total

assets

..........................................................................

1,402,786,612

Liabilities:

Payables:

Capital

shares

redeemed

...................................................................

5,646,430

Management

fees

.........................................................................

433,561

Distribution

fees

..........................................................................

126,295

Transfer

agent

fees

........................................................................

204,415

Trustees'

fees

and

expenses

.................................................................

1,555

Distributions

to

shareholders

.................................................................

636,024

Accrued

expenses

and

other

liabilities

...........................................................

73,250

Total

liabilities

.........................................................................

7,121,530

Net

assets,

at

value

.................................................................

$1,395,665,082

Net

assets

consist

of:

Paid-in

capital

.............................................................................

$1,504,109,534

Total

distributable

earnings

(losses)

.............................................................

(108,444,452)

Net

assets,

at

value

.................................................................

$1,395,665,082

Franklin

California

Tax-Free

Trust

Financial

Statements

Statement

of

Assets

and

Liabilities

(continued)

December

31,

2025

(unaudited)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

#### Franklin

#### California

#### Intermediate-

#### Term

#### Tax-Free

#### Income

#### Fund

#### Class

#### A:
Net

assets,

at

value

.......................................................................

$458,936,363

Shares

outstanding

........................................................................

41,664,634

Net

asset

value

per

share

a

,b

..................................................................

$11.02

Maximum

offering

price

per

share

(net

asset

value

per

share

÷

.75

%)

b

................................

$11.27

#### Class

#### A1:
Net

assets,

at

value

.......................................................................

$259,474,861

Shares

outstanding

........................................................................

23,571,609

Net

asset

value

per

share

a

,b

..................................................................

$11.01

Maximum

offering

price

per

share

(net

asset

value

per

share

÷

.75

%)

b

................................

$11.26

#### Class

#### C:
Net

assets,

at

value

.......................................................................

$18,562,253

Shares

outstanding

........................................................................

1,679,309

Net

asset

value

and

maximum

offering

price

per

share

a

,b

............................................

$11.05

#### Class

#### R6:
Net

assets,

at

value

.......................................................................

$79,556,072

Shares

outstanding

........................................................................

7,208,931

Net

asset

value

and

maximum

offering

price

per

share

b

.............................................

$11.04

#### Advisor

#### Class:
Net

assets,

at

value

.......................................................................

$579,135,533

Shares

outstanding

........................................................................

52,467,983

Net

asset

value

and

maximum

offering

price

per

share

b

.............................................

$11.04

a

Redemption

price

is

equal

to

net

asset

value

less

contingent

deferred

sales

charges,

if

applicable.

b

Net

asset

value

per

share

may

not

recalculate

due

to

rounding.

Franklin

California

Tax-Free

Trust

Financial

Statements

Statement

of

Operations

for

the

six

months

ended

December

31,

2025

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

#### Franklin

#### California

#### Intermediate-

#### Term

#### Tax-Free

#### Income

#### Fund
Investment

income:

Interest:

Unaffiliated

issuers

........................................................................

$27,273,791

Expenses:

Management

fees

(Note

a)

...................................................................

3,145,142

Distribution

fees:

(Note

3c)

&nbsp;&nbsp;&nbsp;&nbsp;Class

A

................................................................................

519,887

&nbsp;&nbsp;&nbsp;&nbsp;Class

A1

...............................................................................

137,241

&nbsp;&nbsp;&nbsp;&nbsp;Class

C

................................................................................

63,366

Transfer

agent

fees:

(Note

3e)

&nbsp;&nbsp;&nbsp;&nbsp;Class

A

................................................................................

157,391

&nbsp;&nbsp;&nbsp;&nbsp;Class

A1

...............................................................................

103,935

&nbsp;&nbsp;&nbsp;&nbsp;Class

C

................................................................................

7,387

&nbsp;&nbsp;&nbsp;&nbsp;Class

R6

...............................................................................

7,012

&nbsp;&nbsp;&nbsp;&nbsp;Advisor

Class

............................................................................

213,446

Custodian

fees

............................................................................

4,045

Reports

to

shareholders

fees

..................................................................

15,304

Registration

and

filing

fees

....................................................................

8,083

Professional

fees

...........................................................................

43,572

Trustees'

fees

and

expenses

..................................................................

7,682

Other

....................................................................................

124,840

Total

expenses

.........................................................................

4,558,333

Expenses

waived/paid

by

affiliates

(Note

f)

....................................................

(547,050)

Net

expenses

.........................................................................

4,011,283

Net

investment

income

................................................................

23,262,508

Realized

and

unrealized

gains

(losses):

Net

realized

gain

(loss)

from:

Investments:

Unaffiliated

issuers

......................................................................

(897,056)

Net

change

in

unrealized

appreciation

(depreciation)

on:

Investments:

Unaffiliated

issuers

......................................................................

28,529,864

Unfunded

commitments

....................................................................

(134,219)

Net

realized

and

unrealized

gain

(loss)

............................................................

27,498,589

Net

increase

(decrease)

in

net

assets

resulting

from

operations

..........................................

$50,761,097

Franklin

California

Tax-Free

Trust

Financial

Statements

Statements

of

Changes

in

Net

Assets

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

#### Franklin

#### California

#### Intermediate-Term

#### Tax-

#### Free

#### Income

#### Fund

#### Six

#### Months

#### Ended

#### December

#### 31,

#### 2025
(unaudited)

#### Year

#### Ended

#### June

#### 30,

#### 2025
Increase

(decrease)

in

net

assets:

Operations:

Net

investment

income

.................................................

$23,262,508

$42,649,245

Net

realized

gain

(loss)

.................................................

(897,056)

(16,371,222)

Net

change

in

unrealized

appreciation

(depreciation)

...........................

28,395,645

(5,443,091)

Net

increase

(decrease)

in

net

assets

resulting

from

operations

................

50,761,097

20,834,932

Distributions

to

shareholders:

Class

A

.............................................................

(6,885,990)

(11,784,742)

Class

A1

............................................................

(4,743,771)

(10,107,456)

Class

C

.............................................................

(281,905)

(626,979)

Class

R6

............................................................

(1,321,545)

(2,151,486)

Advisor

Class

........................................................

(10,017,182)

(17,885,078)

Total

distributions

to

shareholders

..........................................

(23,250,393)

(42,555,741)

Capital

share

transactions:

(Note

2)

Class

A

.............................................................

54,330,160

28,007,962

Class

A1

............................................................

(27,905,043)

(62,246,762)

Class

C

.............................................................

(2,515,603)

(6,501,779)

Class

R6

............................................................

12,347,823

8,496,902

Advisor

Class

........................................................

32,753,376

1,548,898

Total

capital

share

transactions

............................................

69,010,713

(30,694,779)

Net

increase

(decrease)

in

net

assets

...................................

96,521,417

(52,415,588)

Net

assets:

Beginning

of

period

.....................................................

1,299,143,665

1,351,559,253

End

of

period

..........................................................

$1,395,665,082

$1,299,143,665

Franklin

California

Tax-Free

Trust

Notes

to

Financial

Statements

(unaudited)

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund

franklintempleton.com

Semiannual

Report

1. #### Organization

#### and

#### Significant

#### Accounting

#### Policies
Franklin

California

Tax-Free

Trust (Trust)

is

registered

under

the

Investment

Company

Act

of

1940

(1940

Act)

as

an

open-end

management

investment

company,

consisting

of one fund,

Franklin

California

Intermediate-Term

Tax-Free

Income

Fund (Fund).

The Fund

follows

the

accounting

and

reporting

guidance

in

Financial

Accounting

Standards

Board

(FASB)

Accounting

Standards

Codification

Topic

946,

Financial

Services

–

Investment

Companies

(ASC

946)

and applies

the

specialized

accounting

and

reporting

guidance

in

U.S.

Generally

Accepted

Accounting

Principles

(U.S.

GAAP),

including,

but

not

limited

to,

ASC

946. The

Fund

offers five

classes

of

shares:

Class

A,

Class

A1,

Class

C,

Class

R6

and

Advisor

Class. Class

C

shares

automatically

convert

to

Class

A

shares

on

a

monthly

basis,

after

they

have

been

held

for

years.

Each

class

of

shares

may

differ

by

its

initial

sales

load,

contingent

deferred

sales

charges,

voting

rights

on

matters

affecting

a

single

class,

its

exchange

privilege

and

fees

due

to

differing

arrangements

for

distribution

and

transfer

agent

fees.

The

following

summarizes

the Fund's

significant

accounting

policies.

a. #### Financial

#### Instrument

#### Valuation
The

Fund's

investments

in

financial

instruments

are

carried

at

fair

value

daily.

Fair

value

is

the

price

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

on

the

measurement

date.

The

Fund

calculates

the

net

asset

value

(NAV)

per

share

each business

day as

of

p.m.

Eastern

time

or

the

regularly

scheduled

close

of

the

New

York

Stock

Exchange

(NYSE),

whichever

is

earlier.

Under

compliance

policies

and

procedures

approved

by

the Trust's

Board

of

Trustees

(the

Board),

the

Board

has

designated

the

Fund's

investment

manager

as

the

valuation

designee

and

has

responsibility

for

oversight

of

valuation.

The

investment

manager

is

assisted

by

the

Fund's

administrator

in

performing

this

responsibility,

including

leading

the

cross-

functional

Valuation

Committee

(VC).

The

Fund

may

utilize

independent

pricing

services,

quotations

from

securities

and

financial

instrument

dealers,

and

other

market

sources

to

determine

fair

value.

Debt

securities

generally

trade

in

the over-the-counter

(OTC)

market

rather

than

on

a

securities

exchange.

The

Fund's

pricing

services

use

multiple

valuation

techniques

to

determine

fair

value.

In

instances

where

sufficient

market

activity

exists,

the

pricing

services

may

utilize

a

market-based

approach

through

which

quotes

from

market

makers

are

used

to

determine

fair

value.

In

instances

where

sufficient

market

activity

may

not

exist

or

is

limited,

the

pricing

services

also

utilize

proprietary

valuation

models

which

may

consider

market

characteristics

such

as

benchmark

yield

curves,

credit

spreads,

estimated

default

rates,

anticipated

market

interest

rate

volatility,

coupon

rates,

anticipated

timing

of

principal

repayments,

underlying

collateral,

and

other

unique

security

features

in

order

to

estimate

the

relevant

cash

flows,

which

are

then

discounted

to

calculate

the

fair

value.

The

Fund

has

procedures

to

determine

the

fair

value

of

financial

instruments

for

which

market

prices

are

not

reliable

or

readily

available.

Under

these

procedures,

the Fund

primarily

employs

a

market-based

approach

which

may

use

related

or

comparable

assets

or

liabilities,

recent

transactions,

market

multiples,

and

other

relevant

information

for

the

investment

to

determine

the

fair

value

of

the

investment.

An

income-based

valuation

approach

may

also

be

used

in

which

the

anticipated

future

cash

flows

of

the

investment

are

discounted

to

calculate

fair

value.

Discounts

may

also

be

applied

due

to

the

nature

or

duration

of

any

restrictions

on

the

disposition

of

the

investments.

Due

to

the

inherent

uncertainty

of

valuations

of

such

investments,

the

fair

values

may

differ

significantly

from

the

values

that

would

have

been

used

had

an

active

market

existed.

b. #### Income

#### Taxes
It

is the Fund's

policy

to

qualify

as

a

regulated

investment

company

under

the

Internal

Revenue

Code. The Fund

intends

to

distribute

to

shareholders

substantially

all

of

its income

and

net

realized

gains

to

relieve

it

from

federal

income

and

excise

taxes.

As

a

result,

no

provision

for

U.S.

federal

income

taxes

is

required.

The Fund

may

recognize

an

income

tax

liability

related

to

its

uncertain

tax

positions

under

U.S.

GAAP

when

the

uncertain

tax

position

has

a

less

than

50%

probability

that

it

will

be

sustained

upon

examination

by

the

tax

authorities

based

on

its

technical

merits.

As

of

December

31,

2025, the Fund

has

determined

that

no

tax

liability

is

required

in

its

financial

statements

related

to

uncertain

tax

positions

for

any

open

tax

years

(or

expected

to

be

taken

in

future

tax

years).

The

Fund's

federal

and

state

income

and

federal

excise

tax

returns

for

the

prior

three

fiscal

years

are

subject

to

examination

by

the

Internal

Revenue

Service

and

state

departments

of

revenue.

Franklin

California

Tax-Free

Trust

Notes

to

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
(continued)

c. #### Security

#### Transactions,

#### Investment

#### Income,

#### Expenses

#### and

#### Distributions
Security

transactions

are

accounted

for

on

trade

date.

Realized

gains

and

losses

on

security

transactions

are

determined

on

a

specific

identification

basis.

Interest

income

(including

interest

income

from

payment-in-kind

securities,

if

any)

and

estimated

expenses

are

accrued

daily.

Amortization

of

premium

and

accretion

of

discount

on

debt

securities

are

included

in

interest

income.

Paydown

gains

and

losses

are

recorded

as

an

adjustment

to

interest

income.

Dividends

from

net

investment

income

are

normally

declared

daily;

these

dividends

may

be

reinvested

or

paid

monthly

to

shareholders.

Distributions

from

realized

capital

gains

and

other

distributions,

if

any,

are

recorded

on

the

ex-dividend

date.

Distributable

earnings

are

determined

according

to

income

tax

regulations

(tax

basis)

and

may

differ

from

earnings

recorded

in

accordance

with

U.S.

GAAP.

These

differences

may

be

permanent

or

temporary.

Permanent

differences

are

reclassified

among

capital

accounts

to

reflect

their

tax

character.

These

reclassifications

have

no

impact

on

net

assets

or

the

results

of

operations.

Temporary

differences

are

not

reclassified,

as

they

may

reverse

in

subsequent

periods.

Common

expenses

incurred

by

the

Trust

are

allocated

among

the

Funds

based

on

the

ratio

of

net

assets

of

each

Fund

to

the

combined

net

assets

of

the

Trust

or

based

on

the

ratio

of

number

of

shareholders

of

each

Fund

to

the

combined

number

of

shareholders

of

the

Trust.

Fund

specific

expenses

are

charged

directly

to

the

Fund

that

incurred

the

expense.

Realized

and

unrealized

gains

and

losses

and

net

investment

income,

excluding

class

specific

expenses,

are

allocated

daily

to

each

class

of

shares

based

upon

the

relative

proportion

of

net

assets

of

each

class.

Differences

in

per

share

distributions

by

class

are

generally

due

to

differences

in

class

specific

expenses.

d. #### Insurance
The

scheduled

payments

of

interest

and

principal

for

each

insured

municipal

security

in

the

Trust are

insured

by

either

a

new

issue

insurance

policy

or

a

secondary

insurance

policy.

Some

municipal

securities

in

the

Fund

are

secured

by

collateral

guaranteed

by

an

agency

of

the

U.S.

government.

Depending

on

the

type

of

coverage,

premiums

for

insurance

are

either

added

to

the

cost

basis

of

the

security

or

paid

by

a

third

party.

Insurance

companies

typically

insure

municipal

bonds

that

tend

to

be

of

very

high

quality,

with

the

majority

of

underlying

municipal

bonds

rated

A

or

better.

However,

an

event

involving

an

insurer

could

have

an

adverse

effect

on

the

value

of

the

securities

insured

by

that

insurance

company.

There

can

be

no

assurance

the

insurer

will

be

able

to

fulfill

its

obligations

under

the

terms

of

the

policy.

e. #### Accounting

#### Estimates
The

preparation

of

financial

statements

in

accordance

with

U.S.

GAAP

requires

management

to

make

estimates

and

assumptions

that

affect

the

reported

amounts

of

assets

and

liabilities

at

the

date

of

the

financial

statements

and

the

amounts

of

income

and

expenses

during

the

reporting

period.

Actual

results

could

differ

from

those

estimates.

f. #### Guarantees

#### and

#### Indemnifications
Under

the Trust's

organizational

documents,

its

officers

and trustees

are

indemnified

by

the Trust against

certain

liabilities

arising

out

of

the

performance

of

their

duties

to

the

Trust.

Additionally,

in

the

normal

course

of

business,

the Trust,

on

behalf

of

the

Fund, enters

into

contracts

with

service

providers

that

contain

general

indemnification

clauses.

The Trust's

maximum

exposure

under

these

arrangements

is

unknown

as

this

would

involve

future

claims

that

may

be

made

against

the Trust

that

have

not

yet

occurred.

Currently,

the Trust

expects

the

risk

of

loss

to

be

remote.

1. #### Organization

#### and

#### Significant

#### Accounting

#### Policies
(continued)

Franklin

California

Tax-Free

Trust

Notes

to

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
(continued)

2. #### Shares

#### of

#### Beneficial

#### Interest
At

December

31,

2025,

there

were

an

unlimited

number

of

shares

authorized

($0.01

par

value).

Transactions

in

the

Fund's

shares

were

as

follows:

3. #### Transactions

#### with

#### Affiliates
Franklin

Resources,

Inc.

is

the

holding

company

for

various

subsidiaries

that

together

are

referred

to

as

Franklin

Templeton.

Certain

officers

and trustees

of

the Fund are

also

officers

and/or directors

of

the

following

subsidiaries:

#### Six

#### Months

#### Ended

#### December

#### 31,

#### 2025

#### Year

#### Ended

#### June

#### 30,

#### 2025

#### Shares

#### Amount

#### Shares

#### Amount

#### Class

#### A

#### Shares:
Shares

sold

a

...................................

9,579,296

$104,832,208

11,699,294

$127,975,904

Shares

issued

in

reinvestment

of

distributions

..........

575,494

6,293,698

972,306

10,648,254

Shares

redeemed

...............................

(5,210,964)

(56,795,746)

(10,112,729)

(110,616,196)

Net

increase

(decrease)

..........................

4,943,826

$54,330,160

2,558,871

$28,007,962

#### Class

#### A1

#### Shares:
Shares

sold

...................................

354,793

$3,895,196

706,363

$7,751,891

Shares

issued

in

reinvestment

of

distributions

..........

382,644

4,179,547

812,959

8,902,559

Shares

redeemed

...............................

(3,292,487)

(35,979,786)

(7,206,770)

(78,901,212)

Net

increase

(decrease)

..........................

(2,555,050)

$(27,905,043)

(5,687,448)

$(62,246,762)

#### Class

#### C

#### Shares:
Shares

sold

...................................

161,015

$1,772,714

396,137

$4,361,149

Shares

issued

in

reinvestment

of

distributions

..........

24,533

268,973

54,001

594,040

Shares

redeemed

a

..............................

(415,486)

(4,557,290)

(1,041,757)

(11,456,968)

Net

increase

(decrease)

..........................

(229,938)

$(2,515,603)

(591,619)

$(6,501,779)

#### Class

#### R6

#### Shares:
Shares

sold

...................................

2,398,678

$26,175,764

3,038,656

$33,369,985

Shares

issued

in

reinvestment

of

distributions

..........

60,953

667,801

112,085

1,229,499

Shares

redeemed

...............................

(1,327,991)

(14,495,742)

(2,381,966)

(26,102,582)

Net

increase

(decrease)

..........................

1,131,640

$12,347,823

768,775

$8,496,902

#### Advisor

#### Class

#### Shares:
Shares

sold

...................................

8,979,609

$98,262,775

19,098,548

$208,371,299

Shares

issued

in

reinvestment

of

distributions

..........

700,409

7,674,099

1,264,266

13,873,603

Shares

redeemed

...............................

(6,682,966)

(73,183,498)

(20,188,743)

(220,696,004)

Net

increase

(decrease)

..........................

2,997,052

$32,753,376

174,071

$1,548,898

a

May

include

a

portion

of

Class

C

shares

that

were

automatically

converted

to

Class

A. #### Subsidiary

#### Affiliation
Franklin

Advisers,

Inc.

(Advisers)

Investment

manager

Franklin

Templeton

Services,

LLC

(FT

Services)

Administrative

manager

Franklin

Templeton

Investor

Services,

LLC

(Investor

Services)

Transfer

agent

Franklin

Distributors,

LLC

(Distributors)

Principal

underwriter

Franklin

California

Tax-Free

Trust

Notes

to

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
(continued)

a. #### Management

#### Fees
The

Fund

pays

an

investment

management

fee,

calculated

daily

and

paid

monthly,

to

Advisers

based

on

the

month-end

net

assets

of

the

Fund

as

follows:

For

the

period

ended

December

31,

2025,

the

annualized

gross

effective

investment

management

fee

rate

was 0.467%

of

the

Fund's

average daily

net

assets.

b. #### Administrative

#### Fees
Under

an

agreement

with

Advisers,

FT

Services

provides

administrative

services

to

the

Fund.

The

fee

is

paid

by Advisers

based

on

the Fund's

average

daily

net

assets,

and

is

not

an

additional

expense

of

the

Fund.

c. #### Distribution

#### Fees
The

Board

has

adopted

distribution

plans

for

each

share

class,

with

the

exception

of

Class

R6

and

Advisor

Class

shares,

pursuant

to

Rule

12b-1

under

the

1940

Act.

Under

the

Fund's

Class

A

and

A1

reimbursement

distribution

plans,

the

Fund

reimburses

Distributors

for

costs

incurred

in

connection

with

the

servicing,

sale

and

distribution

of the

Fund's

shares

up

to

the

maximum

annual

plan

rate

for

each

class.

Under

the

Class

A

and

A1

reimbursement

distribution

plans,

costs

exceeding

the

maximum

for

the

current

plan

year

cannot

be

reimbursed

in

subsequent

periods.

In

addition,

under

the

Fund's

Class

C

compensation

distribution

plan,

the

Fund

pays

Distributors

for

costs

incurred

in

connection

with

the

servicing,

sale

and

distribution

of

the

Fund's

shares

up

to

the

maximum

annual

plan

rate.

The

plan

year,

for

purposes

of

monitoring

compliance

with

the

maximum

annual

plan

rates,

is

February

through

January

31. The

maximum

annual

plan

rates,

based

on

the

average

daily

net

assets,

for

each

class,

are

as

follows:

d. #### Sales

#### Charges/Underwriting

#### Agreements
Front-end

sales

charges

and

contingent

deferred

sales

charges

(CDSC)

do

not

represent

expenses

of

the

Fund.

These

charges

are

deducted

from

the

proceeds

of

sales

of

fund

shares

prior

to

investment

or

from

redemption

proceeds

prior

to

remittance,

as

applicable.

Distributors

has

advised

the

Fund

of

the

following

commission

transactions

related

to

the

sales

and

redemptions

of

the

Fund's

shares

for

the

period:

#### Annualized

#### Fee

#### Rate

#### Net

#### Assets
0.625%

Up

to

and

including

$100

million

0.500%

Over

$100

million,

up

to

and

including

$250

million

0.450%

Over

$250

million,

up

to

and

including

$7.5

billion

0.440%

Over

$7.5

billion,

up

to

and

including

$10

billion

0.430%

Over

$10

billion,

up

to

and

including

$12.5

billion

0.420%

Over

$12.5

billion,

up

to

and

including

$15

billion

0.400%

Over

$15

billion,

up

to

and

including

$17.5

billion

0.380%

Over

$17.5

billion,

up

to

and

including

$20

billion

0.360%

In

excess

of

$20

billion

Class

A

....................................................................................

0.25%

Class

A1

...................................................................................

0.10%

Class

C

....................................................................................

0.65%

3. #### Transactions

#### with

#### Affiliates
(continued)

Franklin

California

Tax-Free

Trust

Notes

to

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
(continued)

e. #### Transfer

#### Agent

#### Fees
Each

class

of

shares

pays

transfer

agent

fees,

calculated

monthly

and

paid

monthly, to

Investor

Services

for

its

performance

of

shareholder

servicing

obligations. The

fees

are based

on

a

fixed

margin

earned

by

Investor

Services

and

are allocated

to

the Fund

based

upon

relative

assets

and

relative

transactions. In

addition,

each

class reimburses

Investor

Services

for

out

of

pocket

expenses

incurred

and,

except

for

Class

R6, reimburses

shareholder

servicing

fees

paid

to

third

parties.

These

fees

paid

to

third

parties

are

accrued

and

allocated

daily

based

upon

their

relative

proportion

of

such

classes'

aggregate

net

assets.

Class

R6

pays

Investor

Services

transfer

agent

fees

allocated

specifically

to

that

class

based

upon

its

relative

assets

and

relative

transactions.

For

the

period

ended

December

31,

2025,

the Fund

paid

transfer

agent

fees

as

noted

in

the

Statement of

Operations,

of

which

$133,493

was

retained

by

Investor

Services.

f. #### Waiver

#### and

#### Expense

#### Reimbursements
Advisers

has contractually

agreed

in

advance

to

waive

or

limit

its fees

and

to

assume

as

its

own

expense

certain

expenses

otherwise

payable

by

the

Fund

so

that

the

operating expenses

(excluding

interest

expense,

distribution

fees,

acquired

fund

fees

and

expenses and

certain

non-routine

expenses

or

costs,

including

those

relating

to

litigation,

indemnification,

reorganizations,

and

liquidations)

for

each

class

of

the

Fund

do

not

exceed 0.49%

based

on

the

average

net

assets

of

each

class

until October

31,

2026. Total

expenses

waived

or

paid

are

not

subject

to

recapture

subsequent

to

the

Fund's

fiscal

year

end.

Transfer

agent

fees

on

Class

R6

shares

of

the

Fund have

been

capped

so

that

transfer

agent

fees

for

that

class

do

not

exceed

0.03%

based

on

the

average

net

assets

of

the

class

until

October

31,

2026. g. #### Interfund

#### Transactions
The

Fund

engaged

in

purchases

and

sales

of

investments

with

funds

or

other

accounts

that

have

common

investment

managers

(or

affiliated

investment

managers),

directors,

trustees

or

officers.

During

the

period

ended

December

31,

2025,

these

purchase

and

sale

transactions

aggregated

$76,236,784

and

$43,500,000,

respectively.

4. #### Income

#### Taxes
For

tax

purposes,

capital

losses

may

be

carried

over

to

offset

future

capital

gains.

At

June

30,

2025,

the

capital

loss

carryforwards

were

as

follows:

Sales

charges

retained

net

of

commissions

paid

to

unaffiliated

brokers/dealers

..............................

$3,936

CDSC

retained

..............................................................................

$28,548

Capital

loss

carryforwards

not

subject

to

expiration:

Short

term

................................................................................

$

55,775,089

Long

term

................................................................................

66,453,523

Total

capital

loss

carryforwards

...............................................................

$122,228,612

3. #### Transactions

#### with

#### Affiliates
(continued)

d. #### Sales

#### Charges/Underwriting

#### Agreements
(continued)

Franklin

California

Tax-Free

Trust

Notes

to

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
(continued)

At

December

31,

2025,

the

cost

of

investments

and

net

unrealized

appreciation

(depreciation) for

income

tax

purposes

were

as

follows:

Differences

between

income

and/or

capital

gains

as

determined

on

a

book

basis

and

a

tax

basis

are

primarily

due

to

differing

treatment

of

bond

discounts

and

premiums.

5. #### Investment

#### Transactions
Purchases

and

sales

of

investments (excluding

short

term

securities) for

the

period

ended

December

31,

2025,

aggregated

$144,249,644 and

$103,869,661,

respectively.

6. #### Concentration

#### of

#### Risk
The

Fund

invests

a

large

percentage

of

its total

assets

in

obligations

of

issuers

within California

and

U.S.

territories.

Such

concentration

may

subject

the

Fund

to

risks

associated

with

industrial

or

regional

matters,

and

economic,

political

or

legal

developments

occurring

within California

and

U.S.

territories. Investments

in

these

securities

are

sensitive

to

interest

rate

changes

and

credit

risk

of

the

issuer

and

may

subject

the

Fund

to

increased

market

volatility.

The

market

for

these

investments

may

be

limited,

which

may

make

them

difficult

to

buy

or

sell.

7. #### Credit

#### Facility
The

Fund,

together

with

other

U.S.

registered

and

foreign

investment

funds

(collectively,

Borrowers),

managed

by

Franklin

Templeton,

are

borrowers

in

a

joint

syndicated

senior

unsecured

credit

facility

totaling

$2.995

billion

(Global

Credit

Facility)

which

matured

on

January

30,

2026. This

Global

Credit

Facility

provides

a

source

of

funds

to

the

Borrowers

for

temporary

and

emergency

purposes,

including

the

ability

to

meet

future

unanticipated

or

unusually

large

redemption

requests.

Effective

January

30,

2026,

the

Borrowers

renewed

the

Global

Credit

Facility

for

a

one-year

term,

maturing

January

29,

2027,

for

a

total

of

$2.995

billion.

Under

the

terms

of

the

Global

Credit

Facility,

the

Fund

may,

in

addition

to

interest

charged

on

any

borrowings

made

by

the

Fund

and

other

costs

incurred

by

the

Fund,

pay

its

share

of

fees

and

expenses

incurred

in

connection

with

the

implementation

and

maintenance

of

the

Global

Credit

Facility,

based

upon

its

relative

share

of

the

aggregate

net

assets

of

all

of

the

Borrowers,

including

an

annual

commitment

fee

of

0.15%

based

upon

the

unused

portion

of

the

Global

Credit

Facility.

These

fees

are

reflected

in

other

expenses

in

the

Statement

of

Operations.

During

the

period

ended

December

31,

2025,

the Fund

did

not

use

the

Global

Credit

Facility.

8. #### Fair

#### Value

#### Measurements
The

Fund

follows

a

fair

value

hierarchy

that

distinguishes

between

market

data

obtained

from

independent

sources

(observable

inputs)

and

the Fund's

own

market

assumptions

(unobservable

inputs).

These

inputs

are

used

in

determining

the

value

of

the

Fund's financial

instruments

and

are

summarized

in

the

following

fair

value

hierarchy:

Level

–

quoted

prices

in

active

markets

for

identical

financial

instruments

Cost

of

investments

..........................................................................

$1,363,051,883

Unrealized

appreciation

........................................................................

$27,525,518

Unrealized

depreciation

........................................................................

(13,850,894)

Net

unrealized

appreciation

(depreciation)

..........................................................

$13,674,624

4. #### Income

#### Taxes
(continued)

Franklin

California

Tax-Free

Trust

Notes

to

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

#### Franklin

#### California

#### Intermediate-Term

#### Tax-Free

#### Income

#### Fund
(continued)

Level

–

other

significant

observable

inputs

(including

quoted

prices

for

similar

financial

instruments,

interest

rates,

prepayment

speed,

credit

risk,

etc.)

Level

–

significant

unobservable

inputs

(including

the

Fund's

own

assumptions

in

determining

the

fair

value

of

financial

instruments)

The

input

levels

are

not

necessarily

an

indication

of

the

risk

or

liquidity

associated

with

financial

instruments

at

that

level.

At

December

31,

2025,

all

of

the

Fund's investments

in

financial

instruments

carried

at

fair

value

were

valued

using

Level 2

inputs.

9. #### Operating

#### Segments
The Fund operates

as

a

single

operating

segment,

which

is

an

investment

portfolio.

The

portfolio

managers

assigned

to

the

Fund

within

the

Fund's

Investment

manager serve

as

the

Chief

Operating

Decision

Maker

("CODM")

and

are

responsible

for

evaluating

the

Fund's

operating

results

and

allocating

resources

in

accordance

with

the

Fund's

investment

strategy.

Internal

reporting

provided

to

the

CODM

aligns

with

the

accounting

policies

and

measurement

principles

used

in

the financial

statements.

For

information

regarding

segment

assets,

segment

profit

or

loss,

and

significant

expenses,

refer

to

the Statement

of

Assets

and

Liabilities

and

the Statement

of

Operations,

along

with

the

related

notes

to

the financial

statements.

The Schedule

of

Investments

provides

details

of

the Fund's investments

that

generate

returns

such

as

interest,

dividends,

and

realized

and

unrealized

gains

or

losses.

Performance

metrics,

including

portfolio

turnover

and

expense

ratios,

are

disclosed

in

the Financial

Highlights.

10. #### Subsequent

#### Events
The Fund

has

evaluated

subsequent

events

through

the

issuance

of

the

financial

statements

and

determined

that

no

events

have

occurred

that

require

disclosure

other

than

those

already

disclosed

in

the

financial

statements.

#### Abbreviations

#### Selected

#### Portfolio

#### 1915

#### Act
Improvement

Bond

Act

of

1915

#### AG
Assured

Guaranty,

Inc.

#### BAM
Build

America

Mutual

Assurance

Co.

#### COP
Certificate

of

Participation

#### FNMA
Federal

National

Mortgage

Association

#### GO
General

Obligation

#### LOC
Letter

of

Credit

#### NATL
National

Reinsurance

Corp.

#### SPA
Standby

Purchase

Agreement

8. #### Fair

#### Value

#### Measurements
(continued)

Franklin

California

Tax-Free

Trust

franklintempleton.com

Semiannual

Report

#### Changes

#### In

#### and

#### Disagreements

#### with

#### Accountants
For

the

period

covered

by

this

report

Not

applicable.

#### Results

#### of

#### Meeting(s)

#### of

#### Shareholders
For

the

period

covered

by

this

report

Not

applicable.

#### Remuneration

#### Paid

#### to

#### Directors,

#### Officers

#### and

#### Others
For

the

period

covered

by

this

report

Refer

to

the

financial

statements

included

herein.

Remuneration

to

officers

is

paid

by

the

Fund's

investment

manager

according

to

the

terms

of

the

agreement.

#### Board

#### Approval

#### of

#### Management

#### and

#### Subadvisory

#### Agreements
For

the

period

covered

by

this

report

Not

applicable.

CAT-SFSOI

02/26©

2026

Franklin

Templeton.

All

rights

reserved.

ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR.

ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR.

ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.

The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR.

ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.

The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR, as applicable.

ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 14. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ITEM 15. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. |

---

There have been no changes to the procedures by which shareholders may recommend nominees to the Registrant's Board of Trustees that would require disclosure herein.

ITEM 16. CONTROLS AND PROCEDURES.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Registrant's chief executive officer and chief financial officer have
 concluded that the Registrant's disclosure controls and procedures (as defined in Rule 30a- 3(c) under the Investment Company Act
 of 1940, as amended (the "1940 Act")) are effective as of a date within 90 days of the filing date of this report that includes
 the disclosure required by this paragraph, based on their evaluation of the disclosure controls and procedures required by Rule 30a-3(b)
 under the 1940 Act and 15d-15(b) under the Securities Exchange Act of 1934.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) There were no changes in the Registrant's internal control over financial
 reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the period covered by this report that have materially
 affected or are likely to materially affect the Registrant's internal control over financial reporting.

ITEM 17. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable.

ITEM 19. EXHIBITS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) (1) Not applicable

Exhibit 99.CODE ETH

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[(a) (3) Certifications pursuant to section 302 of the Sarbanes-Oxley Act of 2002 attached hereto.](fc-efp22362_ex99cert.htm)

Exhibit 99.CERT

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[(b) Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 attached hereto.](fc-efp22362_ex99906cert.htm)

Exhibit 99.906CERT

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this Report to be signed on its behalf by the undersigned, there unto duly authorized.

**Franklin California Tax-Free Trust**

---

| | |
|:---|:---|
| By: | /s/ Christopher Kings |
|  | Christopher Kings |
|  | Chief Executive Officer – Finance and Administration |
| Date: | February 26, 2026 |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By: | /s/ Christopher Kings |
|  | Christopher Kings |
|  | Chief Executive Officer – Finance and Administration |
| Date: | February 26, 2026 |
| By: | /s/ Jeffrey White |
|  | Jeffrey White |
|  | Chief Financial Officer, Chief Accounting Officer and Treasurer |
| Date: | February 26, 2026 |

---

## Ex-99.Cert

CERTIFICATIONS PURSUANT TO SECTION 302

EX-99.CERT

**<u>CERTIFICATIONS</u>**

I, Christopher Kings, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on
Form N-CSR of **Franklin California Tax-Free Trust;** 

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under
which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other
financial information included in this report, fairly present in all material respects the financial condition, results of operations,
changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant
as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officers and I are
responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company
Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for
the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Designed such disclosure controls and procedures,
or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to
the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the
period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Designed such internal control over financial
reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with
generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Evaluated the effectiveness of the registrant's
disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and
procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Disclosed in this report any change in the registrant's
internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably
likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officers
and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons
performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) All significant deficiencies and material weaknesses
in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's
ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Any fraud, whether or not material, that involves
management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: February 26, 2026

---

| |
|:---|
| /s/ Christopher Kings |
| Christopher Kings |
| Chief Executive Officer – Finance and Administration |

---

**<u>CERTIFICATIONS</u>**

I, Jeffrey White, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of **Franklin California Tax-Free Trust**;

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain
any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances
under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial information
included in this report, and the financial statements on which the financial information is based, fairly present in all material respects
the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include
a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officers
and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment
Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940)
for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision,
to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others
within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under
our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements
for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report
based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period
covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control
over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officers
and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons
performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and
report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Any fraud, whether or not material, that involves management or other employees who have a significant
role in the registrant's internal control over financial reporting.

Date: February 26, 2026

---

| |
|:---|
| /s/ Jeffrey White |
| Jeffrey White |
| Chief Financial Officer, Chief Accounting Officer and Treasurer |

---

## Exhibit 99.906

CERTIFICATIONS PURSUANT TO SECTION 906

EX-99.906CERT

**CERTIFICATION**

**Christopher Kings,** Chief Executive Officer – Finance and Administration, and **Jeffrey White,** Chief Financial Officer, Chief Accounting Officer and Treasurer of **Franklin California Tax-Free Trust (the "Registrant"), each certify to the best of** their knowledge that:

&nbsp;&nbsp;&nbsp;&nbsp;1. The Registrant's periodic report on Form N-CSR for the period ended **December 31, 2025** (the "Form N-CSR") fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934, as amended; and

&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

---

| | |
|:---|:---|
| **Chief Executive Officer –** | **Chief Financial Officer, Chief** |
| **Finance and Administration** | **Accounting Officer and Treasurer** |
| Franklin California Tax-Free Trust | Franklin California Tax-Free Trust |
| /s/ Christopher Kings | /s/ Jeffrey White |
| Christopher Kings | Jeffrey White |
| Date: February 26, 2026 | Date: February 26, 2026 |

---

This certification is being furnished to the Securities and Exchange Commission solely pursuant to 18 U.S.C. § 1350 and is not being filed as part of the Form N-CSR with the Commission.