No one in the media seems to have figured it out yet, but the California high speed rail project is nothing more than a cover story for an enormous state land grab which will enrich their coffers by billions once eminant domain, adverse possession, and countless easements are established. Theft on a collosal scale under the guise of public transportation that is neither needed nor wanted.
I understand your post, but what does taking land off the property tax rolls accomplish for state revenues?