That may be less of an issue here in LA where the LA Unified School District is pretty massive. The bigger thing here is the reputation of specific schools. I used to rent near a middle school that had a reputation as a particularly bad one, and one where students with behavioral issues were bused to. I don't know how true that is, but that was the reputation. I'd imagine that brought property values down some.
The area immediately around where we bought is pretty much all religious private schools (predominantly jewish and catholic), so that doesn't affect property taxes in any way.