Notwithstanding G.S. 24-1, to said amount awarded as damages by the commissioners or a jury or judge, the judge shall, as a part of just compensation, add interest at the legal rate on said amount from the date of taking to the date of satisfaction of the judgment; but interest shall not be allowed from the date of deposit on so much thereof as shall have been paid into court as provided in this Article. For purposes of this section, the term "legal rate" means the prime lending rate, as published by the Board of Governors of the Federal Reserve System on the first business day of the calendar month immediately preceding the date of taking. However, the legal rate established under this section shall not be less than five percent (5%) per annum and shall not exceed eight percent (8%) per annum. An amount awarded as damages shall bear simple, not compounding, interest. (1959, c. 1025, s. 2; 1983, c. 812; 2016-90, s. 18(b); 2019-251, s. 1.4(b); 2023-134, s. 41.9(a).)
Notes of Decisions
Beroth Oil Co. v. N.C. Dep't of Transp., 808 S.E.2d 488 (N.C. Ct. App. 2017).
· cites it 4× “The measure of damages can then be determined by a jury pursuant to N.C. Gen. Stat. § 136-112 , to which the trial court shall add interest accrued from the date of the taking to the date of judgment pursuant to N.”
State High. Comm'n v. Yarborough, 170 S.E.2d 159 (N.C. Ct. App. 1969).
“Since the enactment of G.S. 136-113 in 1959, it has been the duty of the court to add interest to an award of damages for the taking of property pursuant to Chapter 136 of the General Statutes.”
Porter v. Porter, 798 S.E.2d 400 (N.C. Ct. App. 2017).
“July 11, 2016) (adding the phrase "Except as otherwise provided in G.S. 136-113," to the statute). 5 Our record does not include a child support order, although Wife had requested that a child support order be entered.”
Lea Co. v. North Carolina Bd. of Transp., 345 S.E.2d 355 (1986).
· cites it 8× “24-1 on said amount from the date of taking to the date of judgment; but interest shall not be allowed from the date of deposit on so much thereof as shall have been paid into court as provided in this Article.”
Chappell v. N.C. Dep't of Transp. (N.C. 2020).
· cites it 4× “Pre-Judgment Interest Plaintiffs in inverse condemnation proceedings may seek interest on the judgment awarded by a jury as damages “at the legal rate on said amount from the date of the taking to the date of the judgment.” N.C.”
Chappell v. N.C. Dep't of Transp. (N.C. 2020).
· cites it 4× “Pre-Judgment Interest Plaintiffs in inverse condemnation proceedings may seek interest on the judgment awarded by a jury as damages “at the legal rate on said amount from the date of the taking to the date of the judgment.” N.C.”
Dep't of Transp. v. Stimpson, 813 S.E.2d 634 (N.C. Ct. App. 2018).
· cites it 2× “The measure of damages can then be determined by a jury pursuant to N.C. Gen. Stat. § 136-112 , to which the trial court shall add interest accrued from the date of the taking to the date of judgment pursuant to N.”
Dillingham v. Ramsey (N.C. Ct. App. 2019).
“2d 819, 820 (1997) (citations 5“Except as otherwise provided in G.S. 136-113, the legal rate of interest shall be eight percent (8%) per annum for such time as interest may accrue, and no more.”
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