In November the authority declared itself effectively bankrupt, over a £23m spending gap this financial year.
Since then it has sought special permission for various methods to raise £65m including the rise, which would normally require a referendum.
Residents across the city have shared their thoughts over the measure.
Jill, 72, who lives in Nottingham, said she felt “extremely strongly” about the possibilty, as her limited income was already stretched.
“I can’t afford to pay anymore basically as a pensioner, and I don’t get anything for it,” she said.
“I don’t think that normal people who have very low incomes should have to pay anymore.
“It will affect me through my income, we’re already being stretched with high prices for everything; high inflation, rents going up, everything’s going up.
“There comes a point when you have to say ‘hang on a minute, I cannot pay’.”
But Alwyn Nicholas, from Clifton, who works as a security guard, felt the issue was a national one.
The 68-year-old said: “Because of seeing the situation for all councils on the news, about the problems with funding.
“I do think an increase beyond the 5% is acceptable as long as there’s a catch for people at the bottom of the system that need support that can’t manage that.
“In my circumstances I am able to pay more, but I have concerns about some people that are struggling.”
He said there were public services which needed funding, including libraries.
“I certainly think libraries are a very good thing for the community in general, particularly children, and obviously the schools need a fair bit of support as well,” he added.
“When I was in school, I did music and that’s one thing that’s been reported quite a lot over the recent years, the funding for that is just not available anymore.
“So, there is a lot of services that have to be provided because there just isn’t enough funding from the government to the council for these extras particularly. So, that very noticeable from the news from the past 10-20 years.”
‘Wasted money’
Clifton resident Gary Smith,59, a management consultant, believed that the council’s previous errors, such as the demise of Robin Hood Energy, were to blame.
He said, “I feel no, shouldn’t do it.”
“As a principle, no, but it won’t affect me because I can afford to pay whatever council tax they charge me.
“They have squandered money in numerous places. And why should we give them more if they squander our money?”
Neili Chen, a 39-year-old carer who resides in the city core, stated: “I believe the council taxes increase year. It’s how they are required to do it.
We are at a loss on what to do. I won’t be too affected because we have to pay the bill. It won’t be a significant difference, but when everything is taken into account, it will be.
“I believe that acceptance is necessary; otherwise, where will the funding come from?
“We work hard, pay our taxes, and assist those in need.” Where else is the government going to get the funds from?”
The council is presently recommending raising its portion of the council tax bills paid by municipal residents by 4.99% as of April 1.
The Local Democracy Reporting Service (LDRS) earlier reported that the city council had asked the Department of Levelling Up, Housing and Communities (DLUHC) if it could move forward without a public vote. Normally, any increase over that threshold necessitates a referendum.
In the past few years, approval to raise their precepts by 10% and 15%, respectively, was granted to Birmingham City Council and Croydon Council, who also issued section 114 notices.
“As part of the Emergency Financial Support submission, the council has explored what powers could be granted, including raising council tax above…” stated Ross Brown, the council’s corporate director for finance and resources.
4.99, which we have expressed interest in.”
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