SharePoint Property Bag allows to store configurations settings at different levels of the SharePoint hierarchy outside of the application itself. Property bag is basically a hash table of key-value pair options. Property bag feature is available in Windows SharePoint services 3.0, SharePoint 2010 and SharePoint 2013. Property bag helps you to store meta data as key-value pairs example Connection Strings, file paths, server names and other settings in SharePoint application. This is something like app.config information in classic ASP.NET. Property bags can be created / Modified / Deleted from Sharepoint designer, using Object model or using http://pbs2010.codeplex.com/ access Property bags from Central Administration.