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I suspect it really depends on the state. In New Jersey, property taxes are the main way local governments pay for schools. However, the state property taxes strongly redistribute money from the wealtheir suburban towns and give it to the cities. Mind you, that hasn't really increased performance, and the recipients of such money are at this point awash in it.
Thats good, in New Jersey at least, it did seem a mightily (thats not a word is it?) unfair way to do things
Inefficient and politically-motivated transfer of wealth is good?
Educating all children to the same standard* regardless of thier parents wealth is
Or at least aiming for it by eqaulising wealth
Of course an inner city school in a poor nieghbourhood is never going to perform to the same level as the school in the nice rich area. Is this the ineffeciency you refer to or something else ?
Even if it is only a handful of kids who manage to escape poverty thanks to the redistribution isn't it better than leaving each seperate group to fend for itself and just compounding the issue ?
The inefficiency is that the inner cities get the lion's share of the state cash (insuring that the urban centers vote Democrat) while they still perform poorly. What I'm getting at is money isn't everything in education.
/which is off topic, but oh well