Taj Mahals or Decaying Shacks: Patterns in Local School Capital Stock and Unmet Capital Need

This study offers new methods for analyzing the quality of school facilities. It focuses on three major methods for (a) measuring the existing capital stock of public schools, (b) defining adequacy in school facilities, and (c) measuring the cost of bringing existing school facilities up to an adequate standard. The authors apply these methods to all school districts in Michigan, one of the few states that offer no state aid to local districts for constructing capital facilities. The estimates indicate large variations in school buildings and facilities across local communities that are highly correlated with local property wealth.