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I suspect it has more to do with the stark wealth differences in the US which are vastly higher than in Europe, especially because the above includes both public and private education. The US may spend a lot on the mean student, but not much on the median student.
I went to a really well-funded public school, and a lot of the rich parents in the area still sent their kids to private school, meaning they're basically paying for education twice. Rich American parents spend tons of money on their kids' education. It would be interesting to see a map of spending per student and see how it is in poor areas.
Not any more thanks to the Republican pushed school voucher system!
I think your last sentence touched on the real problem. Schools are funded based on local property taxes. So if you're in a poor area your schools are poor. It's like Jim Crow and segregaron but legal