A new argument is made for school finance equalization, based not on "equal protection" or "equal educational opportunity," but on constitutional requirements for tax equity in New Hampshire. Since inequalities in school finance are a taxation problem, they call for tax reform. The analyses rest on four points: (1) that property-poor school districts have higher taxes and raise less money per pupil; (2) that ever-widening disparities violate the "proportional and reasonable" constitutional clause; (3) that education is primarily a state function, making it the unit of "reasonable" taxation; and (4) that states have an obligation to equalize, given the special role of education in the states. (Author)