Valuing Education in the Adequacy Era: School Finance Reforms and Neighborhood Change
*Names in bold indicate Presenter
I draw three main conclusions from the results. First, school finance reforms led to persistent redistribution of property wealth across districts. This redistribution may either benefit or harm low income households, depending on whether they are home owners or renters. Second, home price effects of the reforms were contingent on how districts allocated state revenue. While increases in capital spending were associated with higher home values, the same is not true for instructional spending. Finally, the results show no evidence of significant socioeconomic integration across districts. This result bears further study, and suggests that redistribution of public spending may have limited ability to affect household location choices.