CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in the T. Rowe Price
Tax-Efficient Multi-Cap Growth Fund's (one of the portfolios comprising T. Rowe
Price Tax-Efficient Funds, Inc.) Registration Statement on Form N-1A of our
reports dated March 17, 2000, relating to the financial statements and financial
highlights which appear in the February 29, 2000 Annual Reports to Shareholders
of California Tax-Free Bond Fund and California Tax-Free Money Fund (comprising
T. Rowe Price California Tax-Free Income Trust), Florida Intermediate Tax-Free
Fund, Georgia Tax-Free Bond Fund, Maryland Short-Term Tax-Free Bond Fund,
Maryland Tax-Free Bond Fund, New Jersey Tax-Free Bond Fund, New York Tax-Free
Bond Fund, New York Tax-Free Money Fund, and Virginia Tax-Free Bond Fund
(comprising T. Rowe Price State Tax-Free Income Trust), T. Rowe Price
Tax-Efficient Balanced Fund and T. Rowe Price Tax-Efficient Growth Fund
(comprising T. Rowe Price Tax-Efficient Funds, Inc.), T. Rowe Price Tax Exempt
Money Fund (comprising T. Rowe Price Tax-Exempt Money Fund, Inc.), T. Rowe Price
Tax-Free High Yield Fund, Inc., T. Rowe Price Tax-Free Income Fund, Inc., T.
Rowe Price Intermediate Bond Fund, Inc., and T. Rowe Price Tax-Free
Short-Intermediate Fund, Inc., which are also incorporated by reference into the
Registration Statement. We also consent to the reference to us under the
heading "Independent Accountants" in such Registration Statement.
/s/PricewaterhouseCoopers LLP
PricewaterhouseCoopers LLP
Baltimore, Maryland
August 31, 2000
