Students often attend school in segregated districts that are funded with very different amounts of property tax revenue. These conditions are the result of the fact that states place their school district borders along lines that entrench and worsen America's racial and economic divides. States can, and should, redraw school district boundaries to encompass more equal property tax capacities and more diverse student populations. Just as legislative gerrymandering can shift the balance of political power in a state without changing anything about the voters who live there, purposeful school-system redistricting can ensure that all kids get a fairer share of the state's property tax base, regardless of race, class, or neighborhood--all without changing anything about property values or where families live. In this new research report, New America's Education Funding Equity initiative draws on the machine-learning methods often used for legislative redistricting to simulate new school system boundaries. We present three potential redistricting approaches--a blank-slate model that draws entirely new school districts, one consisting of only county-based districts, and one that strategically merges existing districts--and measure their impact on tax-base fairness and segregation. The average state analyzed shows enormous potential gains: up to a 66.6 percent increase in the equality of per-pupil tax capacity between districts, a 47.6 percent reduction in racial segregation, and a 65.0 percent decrease in economic segregation. An accompanying interactive map and data tool allow users to compare the three models against states' existing school district boundaries and see how redrawing the boundary lines could give more diverse student populations fairer access to local school funding.