Industrial property is a property classification for facilities used in manufacturing, processing, warehousing, distribution, and related industrial activities. Industrial properties are typically assessed and taxed at different rates than residential, commercial, or institutional properties. Industrial tax rates vary by province and municipality—some jurisdictions tax industrial property at higher rates than residential, while others offer competitive industrial rates to attract economic development. Industrial property assessments consider factors like building size, construction type, age, location, and suitability for industrial use. Zoning bylaws designate industrial areas where these uses are permitted, separating them from residential areas due to noise, traffic, and environmental considerations. Industrial property represents a significant tax base component in manufacturing communities, and losing major industrial operations can severely impact municipal finances. Industrial property trends reflect broader economic shifts including manufacturing decline and growth of logistics and distribution facilities.