The region’s economic condition and outlook are good. The Kansas City Metro Area has one of the
lowest unemployment rates in the country, and continues to attract major development. Johnson County, Kansas is one of the fastest growing counties in the nation. It has the largest tax base in the state of Kansas. This high assessed valuation allows county government to maintain the lowest property tax rate in the state.

Prairie Village is a land-locked, fully developed suburban city in Johnson County. The City benefits from the growth and development of the county and the region. Commercial properties in Prairie Village consist of five neighborhood shopping centers and several small office buildings. The shopping centers provide the City with a stable retail base that includes grocery stores and hardware stores as well as niche boutique shops that draw shoppers into the City.

Property values remain strong in this City each year because of its central location and “small
community” ambiance. During the past five years, major remodeling projects have increased
annually as property owners reinvest in their homes and businesses. In recent years, the City
has experienced numerous residential redevelopment projects in which existing homes are razed
and replaced with larger, modern structures with significantly higher property values.