It's pretty simple to write scripts to test this, run this and you'll never come back with a response because #property will update correctly, along the lines of the way you're doing plants. That's doing event property on 2 items as fast as it can possibly go with no error on my machine.
set #lpc 9999
finditem #charid G
event property #findid
if #charname notin #property
event sysmessage #property , Hello
event property #backpackid
if backpack notin #property
event sysmessage #property , Booya
Now run this code below, and run around luna and watch the text fly. As you're running, you wont get updates to #property and it will visually show you. It's pretty simple to test. The second you start moving with right click, you get no updates to most properties until you stop. It just makes sense that its a lag reducing measure if you think about it as if you were a network programmer trying to solve client lag issues running through lots of items that are trying to update a lot of info on a small pipe. The second you start moving off screen the info stops updating. I'm sure if you increase/decrease your update range you'll notice a difference in when you start/stop updating info too.
finditem IS G
event property #findid
if #property = $ || #property = n/a || #property =
event sysmessage #property , NoName