Parent involvement in public education (such as in the USA) is generally low and usually consists of laying the blame on teachers (justified or not) for poor student grades/performance. This usually results in grade inflation with the result that students are generally woefully unprepared for college. If School tax, that homeowners and renters pay to the city/state, were tied to student grades - in addition to property valuation, as is done now - it would incentivize parents to encourage their children to perform better at school.
As an example, the School tax rate where I live is 1.280 per $100 valuation. This translates to $3200 per year for a $250 K single family home. As a first approximation, add 0.25 for an overall 'B' grade and 0.5 for an overall 'C' grade, this translates to $3825 and $5200 for grades B and C respectively. This means an out of pocket additional cost per month of $52 for students with a B grade at year end and an additional cost per month of $166.7 for students with a C grade at year end. The additional funds thus collected can be used to increase teacher salaries (and hence quality) and/or school infrastructure/tutorial programs/one-on-one learning enhancement programs....... Once thus monetarily incentivized, parents will take more interest in their child's educational progress. The algorithm can obviously be tweaked by city/state consensus.