CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to 1) the incorporation by reference in T. Rowe Price
Tax-Efficient Multi-Cap Growth Fund's (one of the funds comprising T. Rowe Price
Tax-Efficient Funds, Inc.) Registration Statement on Form N-1A (the
"Registration Statement") 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 (two of the funds comprising T. Rowe Price
Tax-Efficient Funds, Inc.), 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 Tax-Free Intermediate Bond Fund, Inc., and T. Rowe Price Tax-Free
Short-Intermediate Fund, Inc., which are incorporated by reference into the
Registration Statement; and 2) the reference to us under the heading
"Independent Accountants" in such Registration Statement.
/s/PricewaterhouseCoopers LLP
PricewaterhouseCoopers LLP
Baltimore, Maryland
November 9, 2000
