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Copy Cat Auntie Anne’s Pretzels
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That's a loaded question! States and Districts all fund differently. One of the biggest positives to that is the control of the school system is handled locally to meet individual needs. One of the negatives is inequality of funding. It's so complicated.
It is complicated, as the other commenter shared. For example, some funds/tax monies are allocated to a city as a whole - those funds are divided among fire, police, schools, etc. Areas that need to spend more money on police and fire end up with less money available for the schools. Some areas also get less in property taxes, etc. making funding inequitable...
For us CA folks, there seems to be movement to finally overturn some of the corporate tax loopholes in Prop 13 in 2020. Will definitely share more details when I know more.
Property taxes have a lot to do with it as well. In addition to the centuries of socially constructed inequality