The Fire Authority, which plans the service’s finances, met on January 17, to discuss the proposal.
Putting the annual bill up by 2.99 per cent – or £5 per household – will generate an extra £777,000 in funding for the service, but is the maximum increase the authority is allowed to impose.
It would also help the service balance its books by cutting an expected annual budget gap to £887,000.
Reports also show 2.95 a per cent increase in council tax in the following financial years will reduce an expected budget deficit to 2029 to just over £1.7m.
The authority’s finance committee voted unanimously to approve the £5 increase.
A final decision will now be made by the full authority in February.
The rise means the part of local council tax bills set by the fire authority would rise to £97.21 per year for those in a Band D household.
Coun Richard Butler (Con), Nottinghamshire Council chairma and a member of the authority, said at the meeting he was voting for the recommendation 'reluctantly'.
Speaking to the Local Democracy Reporting Service afterwards, Coun Butler said: “It’s an increase, all council tax payers are going to have to pay it and I naturally don’t like to support something that means more burden on residents.
“Every decision has to be taken on the individual need and financial position of the authority.
“I’m naturally a Conservative, nobody likes tax increases, but circumstances at the Fire Authority means that we’ve had to go along with that.”
Coun Tom Smith (Con) said: “The fire service raises its own taxes, if they need more I don’t think political philosophies should come into that.
“If you need someone to put out your fires or rescue you from your house, it doesn’t matter, ideology – are you small tax or big tax – it doesn’t matter.
Coun John Clarke (Lab), chair of the meeting, said he was 'frustrated' by the decision but says that it is 'needed'.
He said: “Because the cost of living is still there, the £5 will bring us just under £100 (per household).
“What we get from the Fire Authority, I think is good value, for less than £2 a week everyone’s properties and homes is covered by a pretty efficient service without a doubt.
“If you’re on a pension, a fixed income, very difficult, all these increases mount up.
“It is needed, there’s provision for another 17 fire vehicles to replace some of the older stock, they are needed.
“All the high rise blocks in the city, the office blocks, the student blocks, you’ve got to be equipped to fight it."