Will the train be privately owned or government owned? If private, the land will be taxed.
That's the way I understand it. Since Kelo, if a State Constitution permits it, Eminent Domain can be used to seize private property from one party and given to another. I know about the State Constitution limitation because AZ forbids the practice, and it was exercised in court when a hardware store tried to take a brake shop in Mesa, and lost in the AZ Supreme Court. Friend of mine.
TX may be a State that forbids it,
@Bigun would know.