Unequal funding based on property taxes further penalizes the lower classes. The wealthiest go to posh private schools, the upper-middle classes have public schools with greenhouses and olympic size swimming pools, most everyone else has outdated textbooks and low salaries, and the lower classes have lead paint and crumbling infrastructure.
The result is that, averaged out, we have terrible results. Mostly because there's only so much you can do with money, so the wealthiest who have access to a surplus of funding can only do so much to balance out the disadvantages of the rest.
An equalized system would produce much better results for the country. This is how Finland and other social democracies operate.