Is there any CSS property to make font smooth in IE?

That is handled by the operating system and browser. There is a font-smooth property in CSS3 but it is not finished yet.

The smooth font property/ anti-aliasing is set on each individual computer, and usually set as default in IE, unlike Firefox.

Have a quick search in Google referencing your operating system and you should find a few articles on how to set this.

and usually set as default in IE, unlike Firefox.

No its not. Cleartype was not enabled by default for IE on XP or Windows Server (any version). Only vista/7.

Font smoothing is your web browser property not css issues. Right now it's entirely controlled by the client's machine via the operating system settings. Windows 2K and newer have this option. Mac OSX does too. The Omniweb browser for Mac OS 9 and X has font smoothing built into the browser.

Yeas of course this is just a browser ability for smoothing fonts effects. Many browsers use addons or plugins for smoothing effects.