> They misreport the value for tax purposes

Regular people also commit fraud which can make some differences here. But in general it’s the state who decides what something is worth for tax purposes not the individual.

> they own it through some other legal entity that is all negative

Unpaid property taxes result in forfeiture, so again the state’s getting paid here. It’s financial voodoo around other taxes which causes such structures.

> they own it in countries that don't to property taxes

So do regular people, the important bit is where such property is located not who owns it.

> Regular people also commit fraud which can make some differences here.

Yeah, but it's hard for a regular person to under/overreport a property by, say, 200 million USD, and most people do not have the power to negotiate with or bribe municipalities to get different tax treatment like big companies and the rich people owning them do.

> Unpaid property taxes result in forfeiture

Avoided taxes are not unpaid taxes - we're not speaking of people on the run from debt collectors, but people who cheat their way out of having to pay anything.

> So do regular people

What regular people own properties in foreign countries selected for their tax benefits, for investment or recreational uses?

Most regular people own between zero and one property. Granted, they could move, but it takes extra riches to be able to casually straddle multiple borders.