This article reviews the current status of school finance in California in the aftermath of Proposition 13 and the Serrano v. Priest decision (which required determination of school funding on some basis other than district property wealth). Specific trends and directions regarding reform issues of the future are identified. (TE)

Behind the concept of power equalization is the assumption that at any specified tax rate every school district in a State, regardless of wealth, has the same dollar resource level per pupil. A State established schedule of local district funding level choices related to tax rates is essential; however, tax levels are always a product of the…