Institutional property is a property classification covering facilities used for educational, healthcare, religious, cultural, charitable, and similar institutional purposes. Examples include schools and universities, hospitals and healthcare facilities, churches and religious buildings, museums and cultural institutions, and non-profit service organizations. Institutional properties often receive full or partial property tax exemption, recognizing their public benefit purposes. The extent of exemption varies by province, property type, and specific use—public schools are typically fully exempt, while private schools may not be. Hospitals and universities usually receive exemption, though ancillary operations (parking, retail) may be taxed. Religious properties used primarily for worship are generally exempt, though properties used for commercial purposes may not be. The institutional property classification and associated tax treatment reflects policy choices about which organizations merit public subsidy through tax exemption and how to balance this against the municipal revenue base.