> Public education in the US is funded by neighborhood

Sometimes, usually not. It's often (but not always) funded by “school district”, which is often much larger than a neighborhood and may be a large metro area, and often with statewide funding mechanisms that reduce disparity between districts to less than it would be on its own.

But even within a single school district there are "good schools" and "bad schools" and not terribly surprisingly, rents and home prices are more expensive in the neighborhoods with the higher rated schools. Many people move within the same city in order to get their kids in them.

> But even within a single school district there are "good schools" and "bad schools" and not terribly surprisingly, rents and home prices are more expensive in the neighborhoods with the higher rated schools.

Yes, that’s true, but it's not a product of funding by neighborhood, because that's not how the schools in that case are funded.

It's been fairly strongly argued that that's actually because the schools themselves make almost no difference at all on average, and school outcomes are pretty much determined by socioeconomic background and other personal traits of the student with ransome variation, and the “good schools” are just the ones attended by the students with the traits that would produce, on average, good outcomes independent of what school they attend.

That really depends on the state. Some states redistribute tax money across school districts.

Note, for instance, that the whole of New York City is one school district.

Anybody who wants greater social mobility can recognize why that’s a bad thing.