City of Austin v. Foster

POWERS, Justice.

This is an appeal from the judgment in an eminent domain case wherein the trial court awarded compound prejudgment interest in addition to the net amount of the condemnation award.1 We reform the trial court’s judgment to allow prejudgment interest based upon simple interest only and affirm the judgment as reformed.

Appellant, the City of Austin, concedes that prejudgment interest was a proper award in this case, but contends the trial court erred in awarding compound rather than simple interest.2 Appellees, the property owners, contend that the court acted properly and…