We examine how funding for public school facilities varies with school district property wealth and household income. Using data on school facility (i.e., capital) funding in California from fiscal years 1986-87 to 2015-16, we find that funding for school construction and modernization varies widely across districts. Disparities in funding are driven primarily by inter-district differences in property wealth with the highest property wealth districts raising significantly more funding for school facilities. Assessed value per-pupil in California is also negatively correlated with the share of disadvantaged students and students of color. As a result, school facility funding tends to be substantially lower in districts with the highest concentrations of disadvantaged students and students of color.