The place demonstrates rare, uncommon or endangered aspects of Queensland's cultural heritage. The 1930s educational murals, painted on the interior classroom walls of Block B are, and have always been, a rare educational practice. Intact and distinctive, they are the only known murals of this kind in Queensland. The place is important in demonstrating the principal characteristics of a particular class of cultural places. Ascot State School is important in demonstrating the principal characteristics of a Queensland state school with later modifications. These include: teaching buildings constructed to individual designs; and generous, landscaped sites, with mature trees, assembly and play areas, and sporting facilities. The urban brick school buildings are intact, excellent examples of individually designed urban brick school buildings. They demonstrate the principal characteristics of this type through their highset form; linear layout, with classrooms and teachers rooms accessed by verandahs; undercrofts used as open play spaces and understoreys for additional classrooms; loadbearing, masonry construction, with face brick piers to undercroft spaces; and roof fleches. They demonstrate use of the stylistic features of their era, which determined their roof form, decorative treatment and joinery. Typically, urban brick school buildings are configured to create central courtyards, and are located in suburban areas that were growing at the time of their construction. The place is important because of its aesthetic significance. The urban brick school buildings at Ascot State School have aesthetic significance due to their beautiful attributes: identifiable by their symmetrical layout; consistent form; scale; materials; elegant composition; finely crafted timber work; and decorative treatment. These buildings remain intact and demonstrate a continuation of site planning ideals initiated by the placing of the original urban brick school building in a prominent position at the top of the sloping site. The beauty of the school's setting is enhanced by mature trees and formal landscaping elements such as retaining walls and stairs. The buildings are also significant for their contribution to the Anthony and Pringle Streets' streetscape. The place has a strong or special association with a particular community or cultural group for social, cultural or spiritual reasons. Schools have always played an important part in Queensland communities. They typically retain significant and enduring connections with former pupils, parents, and teachers; provide a venue for social interaction and volunteer work; and are a source of pride, symbolising local progress and aspirations. Ascot State School has a strong and ongoing association with the surrounding community. It developed from 1920 through the fundraising efforts of the local community and generations of Ascot children have been taught there.