There are 2 properties of matter: Physical Property and Chemical Property.

What is matter's physical property?
It is the physical aspects of an object, the way something feels, looks, smell and tastes are all physical properties.
- Physical Change refers to any change to the physical property. Example, if we cut a paper it just changed its size but still it is a paper. 

What is matter's Chemical Property?
It is the ability of a substance to undergo chemical changes e.g. Flammability, reactivity.
- Chemical Change refer to a change into new substances with new properties. Example, when iron is exposed to air and water it undergoes a chemical change producing new substance called "rust"
- In other words, any change in color, energy, odor and the formation of gas and solid substance is considered as chemical change.