Wealthier people do have more advantages in life. It's tautological to the extent that it describes what it is to be wealthy.

We're talking about public education though, ideally, public education would have a universally high standard, and making funding for public education based on something like property values ensures that in certain areas it will be underfunded.

So it's really about whether we take universal public education seriously or if we're just providing education to some and a state sponsored daycare service to others.