If using different environments it's very likely that you won't be switching from one to another at runtime, thus not needing to use a properties file.
If using maven, you can define different profiles for your environments and set the parameter you want to change in each profile.
In your pom.xml
<profile>
<id>env1</id>
<properties>
<my.param>myParamValue<my.param/>
</properties>
</profile>
<profile>
<id>env2</id>
<properties>
<my.param>myParamValue2<my.param/>
</properties>
</profile>
In your web.xml
<context-param>
<param-name>myparam</param-name>
<param-value>${my.param}</param-value>
</context-param>
And configure filtering in your deployment descriptor in maven war plugin
<plugin>
<groupId>org.apache.maven.plugins</groupId>
<artifactId>maven-war-plugin</artifactId>
<configuration>
<filteringDeploymentDescriptors>true</filteringDeploymentDescriptors>
</configuration>
</plugin>