In languages that rely on getters and setters, like Java, they're not supposed nor expected to do anything but what they say -- it would be astonishing if x.getB() did anything but return the current value of logical attribute b, or if x.setB(2) did anything but whatever small amount of internal work is needed to make x.getB() return 2.
However, there are no language-imposed guarantees about this expected behavior, i.e., compiler-enforced constraints on the body of methods whose names start with get or set: rather, it's left up to common sense, social convention, "style guides", and testing.
The behavior of x.b accesses, and assignments such as x.b = 2, in languages which do have properties (a set of languages which includes but is not limited to Python) is exactly the same as for getter and setter methods in, e.g., Java: the same expectations, the same lack of language-enforced guarantees.
The first win for properties is syntax and readability. Having to write, e.g.,
x.setB(x.getB() + 1)
instead of the obvious
x.b += 1
cries out for vengeance to the gods. In languages which support properties, there is absolutely no good reason to force users of the class to go through the gyrations of such Byzantine boilerplate, impacting their code's readability with no upside whatsoever.
In Python specifically, there's one more great upside to using properties (or other descriptors) in lieu of getters and setters: if and when you reorganize your class so that the underlying setter and getter are not needed anymore, you can (without breaking the class's published API) simply eliminate those methods and the property that relies on them, making b a normal "stored" attribute of x's class rather than a "logical" one obtained and set computationally.
In Python, doing things directly (when feasible) instead of via methods is an important optimization, and systematically using properties enables you to perform this optimization whenever feasible (always exposing "normal stored attributes" directly, and only ones which do need computation upon access and/or setting via methods and properties).
So, if you use getters and setters instead of properties, beyond impacting the readability of your users' code, you are also gratuitously wasting machine cycles (and the energy that goes to their computer during those cycles;-), again for no good reason whatsoever.
Your only argument against properties is e.g. that "an outside user wouldn't expect any side effects as a result of an assignment, usually"; but you miss the fact that the same user (in a language such as Java where getters and setters are pervasive) wouldn't expect (observable) "side effects" as a result of calling a setter, either (and even less for a getter;-). They're reasonable expectations and it's up to you, as the class author, to try and accommodate them -- whether your setter and getter are used directly or through a property, makes no difference. If you have methods with important observable side effects, do not name them getThis, setThat, and do not use them via properties.
The complaint that properties "hide the implementation" is wholly unjustified: most all of OOP is about implementing information hiding -- making a class responsible for presenting a logical interface to the outside world and implementing it internally as best it can. Getters and setters, exactly like properties, are tools towards this goal. Properties just do a better job at it (in languages that support them;-).
