VALUE LINE TAX EXEMPT FUND INC
NSAR-B, 2000-04-19
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<PAGE>      PAGE  1
000 B000000 02/29/2000
000 C000000 0000733257
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 THE VALUE LINE TAX EXEMPT FUND, INC.
001 B000000 811-3904
001 C000000 2129071500
002 A000000 220 E. 42ND STREET
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10017
002 D020000 5891
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  2
007 C010100  1
007 C020100 NATIONAL BOND PORTFOLIO
007 C030100 N
007 C010200  2
007 C020200 MONEY MARKET PORTFOLIO
007 C030200 N
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 VALUE LINE, INC.
008 B00AA01 A
008 C00AA01 801-625
008 D01AA01 NYC
008 D02AA01 NY
008 D03AA01 10017
008 D04AA01 5891
011 A00AA01 VALUE LINE SECURITIES, INC.
011 B00AA01 8-848
011 C01AA01 NYC
011 C02AA01 NY
011 C03AA01 10017
011 C04AA01 5891
012 A00AA01 STATE STREET BANK AND TRUST COMPANY C/O NFDS
<PAGE>      PAGE  2
012 B00AA01 84-1
012 C01AA01 KANSAS CITY
012 C02AA01 MO
012 C03AA01 64141
012 C04AA01 6729
013 A00AA01 PRICEWATERHOUSECOOPERS LLC
013 B01AA01 NYC
013 B02AA01 NY
013 B03AA01 10036
014 A00AA01 VALUE LINE SECURITIES, INC.
014 B00AA01 8-848
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02110
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   16
019 C00AA00 VALULINEFD
020 C000001      0
020 C000002      0
020 C000003      0
020 C000004      0
020 C000005      0
020 C000006      0
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000        0
022 A000001 SALOMON SMITH BARNEY INC.
022 B000001 11-2418191
022 C000001     84944
022 D000001     58194
022 A000002 GOLDMAN, SACHS & CO.
022 B000002 13-5108880
022 C000002     62298
022 D000002     25441
022 A000003 ABN AMRO INC.
022 B000003 13-3227845
022 C000003     15772
022 D000003     21264
022 A000004 LEHMAN BROTHERS INC.
022 B000004 13-2518466
022 C000004     19302
022 D000004      7244
022 A000005 PAINEWEBBER INC.
022 B000005 13-2638166
022 C000005      9528
<PAGE>      PAGE  3
022 D000005     15298
022 A000006 SEATTLE NORTHWEST SECURITIES CORP.
022 B000006 91-1172183
022 C000006         0
022 D000006     18613
022 A000007 FLEET SECURITIES, INC.
022 B000007 13-2967443
022 C000007     11886
022 D000007      6178
022 A000008 BAUM (GEORGE K.) & CO.
022 B000008 43-1661917
022 C000008      9793
022 D000008      7564
022 A000009 MORGAN STANLEY & CO. INC.
022 B000009 13-2655998
022 C000009      9965
022 D000009      7030
022 A000010 RAMIREZ & CO., INC.
022 B000010 13-2695511
022 C000010     11752
022 D000010      4570
023 C000000     325957
023 D000000     343212
024  00AA00 N
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<PAGE>      PAGE  4
035  00AA00      0
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<PAGE>      PAGE  5
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
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058 C00AA00 N
058 D00AA00 N
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060 B00AA00 Y
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066 A00AA00 N
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070 F01AA00 N
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<PAGE>      PAGE  6
070 K02AA00 N
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080 A00AA00 VIGILANT INSURANCE COMPANY
080 C00AA00    10000
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083 A00AA00 N
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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<PAGE>      PAGE  11
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075 B000200        0
076  000200     0.00
SIGNATURE   JACK M. HOUSTON
TITLE       ASST-TREASURER



<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000733257
<NAME> VALUE LINE TAX EXEMPT FUND, INC.
<SERIES>
   <NUMBER> 1
   <NAME> NATIONAL BOND
<MULTIPLIER> 1000
<CURRENCY> US

<S>                             <C>
<PERIOD-TYPE>                   12-MOS
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<PERIOD-END>                               FEB-29-2000
<EXCHANGE-RATE>                                      1
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<INVESTMENTS-AT-VALUE>                          151033
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000733257
<NAME> VALUE LINE TAX EXEMPT FUND, INC.
<SERIES>
   <NUMBER> 2
   <NAME> MONEY MARKET
<MULTIPLIER> 1000
<CURRENCY> 1

<S>                             <C>
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<EXPENSE-RATIO>                                   1.15


</TABLE>


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