Main differences between property and local variable ( Though I believe comparing property and member variable is more approprate.)

Local variable is declared as a single statement whereas property is a series of statmenets.

Local variable is declared in procedure and scope remains within procedure whereas Property is associated with a class or module.

Local variables has write and read methods whereas property has get and set methods.

Local Variable is stored at a specific memory location and it can be accessed with memory operations. Property value may or may not be accessed.

We can define a property as ReadOnly by using the set method, whereas in case of variable that is not posible