Times have changed, but the formula remains stuck in 1949. The wealth disparities between neighboring towns simply did not exist at anything like their current scale. The founders of the regional school system could not have foreseen the inequity their formula has imposed on most towns today.
Spike Lee's new film "BlacKKKlansman" contains some flaws but, though set in the 1970s, often transcends its weaknesses to heavy-handedly but powerfully evoke our current Trump-dominated era, one in which an unembarrassed racist is in power and the alt-right, including neo-Nazis, has been resurrected.