Franklin California Tax-Free Income Fund

04/17/2026 | Press release | Distributed by Public on 04/17/2026 07:19

Prospectus by Investment Company (Form 497)

GOF-P5 04/26

SUPPLEMENT DATED APRIL 17, 2026
TO THE SUMMARY PROSPECTUS, PROSPECTUS AND
STATEMENT OF ADDITIONAL INFORMATION ("SAI")
OF EACH FUND LISTED IN SCHEDULE A

All changes described below are effective June 30, 2026

1. The following replaces the reference to John Wiley in the section titled "Fund Summary - Portfolio Managers" in the Summary Prospectus and Prospectus of each fund listed in Schedule A:

James Conn, CFA
Senior Vice President of Advisers and portfolio manager of the Fund since June 2026.

2. The following replaces the reference to John Wiley in the section titled "Fund Details - Management" in the Prospectus of each fund listed in Schedule A:

James Conn, CFA Senior Vice President of Advisers

Mr. Conn has been a portfolio manager of the Fund since June 2026. He joined Franklin Templeton in 1996.

3. The following replaces references to John Wiley in the table in the section titled "Management and Other Services - Portfolio managers" in the SAI of each fund listed in Schedule A:

Name

Type of
Account

Number of

Accounts

Managed

Total Assets

Managed

(x $1 million)

Number of Accounts

Managed for which

Advisory Fee is

Performance-Based

Assets Managed for which

Advisory Fee is

Performance-Based

(x $1 million)

James Conn*

Registered

Investment

Companies

10

20,600.5

None

None

Other Pooled

Investment

Vehicles

5

510.6

None

None

Other

Accounts

5

663.4

None

None

*Information is provided as of February 28, 2026.

4. The following replaces references to John Wiley in the table in the section titled "Management and Other Services - Portfolio managers - Ownership of Fund shares" in the SAI of each fund listed in Schedule A:

Portfolio Manager

Dollar Range of Fund Shares Beneficially Owned

James Conn*

None

*Information is provided as of March 31, 2026.

SCHEDULE A

Fund

Date of Summary Prospectus, Prospectus and SAI

FRANKLIN CALIFORNIA TAX-FREE INCOME FUND

Franklin California Tax-Free Income Fund

July 1, 2025

FRANKLIN CALIFORNIA TAX-FREE TRUST

Franklin California Intermediate-Term Tax-Free Income Fund

November 1, 2025

FRANKLIN NEW YORK TAX-FREE INCOME FUND

Franklin New York Tax-Free Income Fund

July 1, 2025

FRANKLIN NEW YORK TAX-FREE TRUST

Fund

Date of Summary Prospectus, Prospectus and SAI

Franklin New York Intermediate-Term Tax-Free Income Fund

February 1, 2026

FRANKLIN TAX-FREE TRUST

Franklin Massachusetts Tax-Free Income Fund

July 1, 2025

Franklin Michigan Tax-Free Income Fund

July 1, 2025

Franklin Minnesota Tax-Free Income Fund

July 1, 2025

Franklin New Jersey Tax-Free Income Fund

July 1, 2025

Franklin Ohio Tax-Free Income Fund

July 1, 2025

Please retain this supplement for future reference.

Franklin California Tax-Free Income Fund published this content on April 17, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on April 17, 2026 at 13:19 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]