The present disclosure provides a system and method for managing data using semantic tags. The method may include providing a data model corresponding to a first set of tangible objects where the data model includes a first template class having both properties describing the set of tangible object and a set of semantic tags corresponding to the properties. The method may include receiving a class definition for a second template class for a second set of tangible objects where the second template class inherits, by the class definition, the properties and the semantic tags for the second set of tangible objects.