TBGAX Fees and Costs — T. Rowe Price Georgia Tax-Free Bond Fund, I Class
Data updated: 2026-07-28
The net expense ratio is 0.43%: a 0.38% management fee plus 0.08% other expenses, less a 0.03% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 16%.
TBGAX Fees and Expenses
Annual operating expenses and sales charges of TBGAX. Prospectus, as of April 24, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.38% |
| 12b-1 fee | — |
| Other expenses | 0.08% |
| Gross expense ratio | 0.46% |
| Fee waiver | −0.03% |
| Net expense ratio | 0.43% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
TBGAX Costs Over Time
On $10,000 invested in TBGAX, assuming 5% a year before costs, total costs come to $272 over 5 years, cutting the return by 0.45% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.43%) | $45 | $142 | $247 |
| Lost growth on money paid in costs | $0 | $7 | $25 |
| Total costs | $45 | $149 | $272 |
| Value after costs | $10,455 | $11,428 | $12,491 |
| Impact on return, per year | 0.45% | 0.45% | 0.45% |
TBGAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $559.8M
- Portfolio turnover (prospectus): 16%
- Securities lending: none during the year
TBGAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Truist Securities, Inc. | $106.0M | 22.18% |
| J.P. MORGAN SECURITIES LLC | $104.6M | 21.88% |
| BARCLAYS CAPITAL INC. | $77.8M | 16.27% |
| WELLS FARGO SECURITIES, LLC | $73.9M | 15.47% |
| BOFA SECURITIES, INC. | $31.8M | 6.66% |
| MORGAN STANLEY & CO. LLC | $21.9M | 4.59% |
| RBC Capital Markets, LLC | $20.5M | 4.30% |
| TD Securities Ltd. | $14.7M | 3.08% |
| JEFFERIES LLC | $13.4M | 2.80% |
| RAYMOND JAMES & ASSOCIATES, INC. | $13.3M | 2.77% |
T. Rowe Price Georgia Tax-Free Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| TBGAX | I Class | 0.43% | — |
| GTFBX | T. Rowe Price Georgia Tax-Free Bond Fund | 0.56% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.