The property related to the security of Cyber-Physical Systems (CPSs) is called opacity, which aims to hide sensitive information from an agent who gains unauthorized access to the industrial communication network. A system is said to be opaque when sensitive information is preserved in a passive cyber attack. However, this information will be hidden from legitimate receivers, such as a SCADA application in an opaque system. Therefore, the availability of system information, known as utility, to trustworthy agents is fundamental to operating such applications efficiently, which establishes a trade-off between the privacy of information against unauthorized agents and the data to legitimate receivers. In this paper, a new notion of utility, called Property-Based Transparency (PBT), is defined. A system is said to be transparent if legitimate receivers can determine whether a given property is satisfied in the system before that property becomes false. A method for verifying PBT is presented, while the boundaries between PBT and opacity are discussed. In addition, a case study is presented to show that, in some cases, the same information can be transparent to legitimate receivers and opaque to unauthorized agents.