1) get an amount equal to what you paid on your property tax every year?
2) Or would they take the entires State collection and divide it between parents?
If option #1 is the answer, do me a favor and look at your latest property tax bill, and see how much you paid for the School system, and see that their is probably no where you would be able to send your kid, and don't forget to divide your amount by the amount of children you have.
If, however option #2 is the answer, how is that not wealth redistribution?
"1) get an amount equal to what you paid on your property tax every year?"
You should.
"2) Or would they take the entires State collection and divide it between parents?"
You obviously do not have any idea what a tax credit is. The credit would be pro-rated based on the amount of taxes paid. So, say, someone with a tax liability of $20,000 would get $5,000 and someone with a tax liabilty of $10,000 gets $2,500 and if a taxpayer's tax liability is zero, he gets zero. A tax credit is a retun of a taxpayer's tax to be used toward the education of one's children. I'm making numbers up here, obviously, but the credit could be more or less depending on the number of school age children.
A voucher, otoh, merely uses a taxpayer's funds to pay for someone else's children education. A tax credit returns the taxes to the rightful owner of those funds. Simple and fair.