To properly translate the taxonomies go to Dashboard → WPML → Taxonomy Transaltion section.
Taxonomy Translation Example
We will see how to translate the taxonomy, Which is "Property Status" for this example.
In Dashboard → WPML → Taxonomy Transaltion, select the taxonomy which you want to translate from the dropdown at the top. Upon selection, you will see the options to translate each taxonomy.
Upon clicking on the Plus icon, a popup will display to add translation for the primary and secondary languages side by side.
To translate the slugs of the taxonomy, you need to click on the Pencil icon and another popup will appear to add translations for slug and labels for that taxonomy.