Where I live it's absurd how much better schools get (and how much property value increases) when you cross a street. At the same time, I'm not going to send my kid to a drastically underfunded school when I can afford to live on the good side of the street (which I think is dLew's point about self interest), because it isn't what's best for them and it really doesn't fix crap.
A pretty radical idea would be to outlaw private schools and eliminate local school districts, both of which extend the legacy of Jim Crow. Fund all schools equitably from the federal or state level and aggressively reintroduce busing based on race and income. Sorta like medicare for all but for schools. white people would flip if that happened though. Maybe we can do that when I eliminate city boundaries in the bay area - go to a giant municipal government and school district at the same time.