I have taken over a property where the previous tenant was a smoker and smoked cigarettes inside the property. Luckily the property does not have carpet in it. It only has tiled flooring. What’s the most cost-effective way to completely remove the cigarette odor from the property?

I would thoroughly wash all surfaces, then paint the walls/ceiling, preceding that with an odor-blocking primer.  That should do the trick.  You'll need to replace blinds and anything else that remains.

You could rent an ozone machine if there is any residual odor.

I'd start with reading the numerous posts from the past on this topic. Use the "search" feature on BP.

Depending on how extensive the odor is, you may need a multilayered approach.

When we rehabbed a house that previous owners lived in and smoked in for decades, we found that we had to go much deeper than walls and paint.  The cigarette odor and tar (yellowish residue) was found in the heating system furnace and duct work too. It can penetrate into electrical outlets and cabinet crevices.

We start with a white vinegar/water wash of every surface. We follow this with a TSP (or TSP substitute) wash. Walls and painted woodwork get a top quality odor/stain blocking primer and are finished with a good top coat of paint.

The ozone machine is a good idea to use at the end to give the place a dose of freshness. We take off the outlet and switch covers (easiest to replace these as it's sometimes tough to get the odor out of plastic) and we pull out the cabinet drawers and open up all we can to let the ozone penetrate as deep as possible. The ozone treatment will temporarily freshen up the place, but lingering odors will likely come back. That's why removal of affected items and deep cleaning of all surfaces is the first step and most critical.

Thank you @Wesley W. and @Marcia Maynard !  That was very helpful!