Many Canberrans would be happy to tell Chief Minister Andrew Barr's government for free, and have done so in the pages of this newspaper, on talk-back radio and may do so next year at the ballot box.

Home owners and business owners have said the tax reforms have cut deeply into their budgets, for seemingly little benefit.

It is somewhat surprising that it has taken this long to call for research into the effects of the tax reform on the lives of Canberra residents.

The tax reform program introduced in 2012 and set to run across a 20 year period is meant to be revenue neutral, meaning the ACT government was not planning to reap more money from higher rates than it lost from lower - and abolished - taxes.

It's a model well-loved by economists. The Grattan Institute has not only praised the tax system in the ACT, but said other states should copy the reforms, enabling further economic growth in the process.

It is said to be more efficient for the economy and assist housing affordability.

While the Labor government's tax reform agenda may be good in theory, home owners are seeing ever-increasing numbers on their rates bills.

This review is necessary, but could have come earlier and should be more wide-ranging.

Its terms of reference include the impact of the tax reform on different households, including first home-buyers, low-income and median income homeowners, those on pensions or fixed income retirees, renters and women.

It will also look at the tax reform's impact on housing affordability and rental affordability, specifically whether buyers are spending less on property or buying more expensive properties, and whether it has encouraged downsizing.

The impact on economic efficiency as well as on "progressivity and equity" will also be analysed.

What isn't included is important - the external consultants haven't been asked to look at whether the reform is set to achieve revenue neutrality, or whether separate changes to the way rates are calculated on apartments, units, townhouses and dual occupancies also pushed rates sky-high last year.

It also doesn't consider how wages have barely grown in recent years, while rates have increased beyond inflation.

Small business owners have also felt the pinch - as rates have gone up, their profit margins and abilities to invest in their businesses have been squeezed.

This year's ACT budget showed rates for houses would increase by 7 per cent, and for apartments 11 per cent. While Chief Minister Barr said the "heaviest lifting" of reform is over, it is daunting for home owners to look ahead to at least another two years of increases when the annual bills are already so high.

Residents across Canberra don't buy in to the stereotype that this city is full of people living comfortably on government salaries and the experiences of those struggling under the weight of continually increasing rates bills can't be ignored. This review is due to be delivered to government in February. It is important that it is released to the public well before next year's election, and if changes are recommended, they are considered carefully.