Uneven access to taxable real property wealth currently produces wide disparities in per pupil expenditures among New York state school districts. The state's operating aid formula does not compensate for the inequities in low wealth districts having an operating expense level of more than $1,500 per pupil. In the last decade several proposals were suggested to equalize school district fiscal resources. Although school district consolidation has tended to reduce the variations in per pupil wealth, per pupil operating expenditures, and tax rates, large differences continue. The money that could be obtained from repeal of the minimum guarantees provided for the state's wealthiest districts is inadequate to equalize expenditures. Data presented here demonstrate that averaging per pupil wealth and per pupil expenditures on the basis of Boards of Cooperative Educational Service (BOCES) regions reduces the range in wealth and per pupil expenditures, thus justifying investigation of a regional tax base model. Variations in district spending for districts within a sample BOCES region were examined using both current law and the redistribution of 5 mill, 10 mill, and 15 mill regional tax levies. The least variation in per pupil expenditures occurred with a 15 mill regional tax distributed equally among school districts located with the BOCES region. (Author/JM)