State of matter, color, density, pH (acid or base), volume, mass, melting/freezing points, smell, texture, and solubility are examples of physical properties.
If something changes the appearance of a substance, but not the way the atoms are put together, it is called a physical change and the chemical formula will not change.
If you say that a substance is inert, you are saying that one of its chemical properties is that it will NOT react (like the elements in Column 18 on the Periodic Table!).
You can usually tell if a substance changes chemically because the temperature might change by itself without adding heat or ice, a new odor is given off, bubbles form, liquid gets cloudy or color changes.