In November, the Chancellor scrapped planned major cuts in police funding, announcing budgets would be protected in real terms, as long as council tax precepts were raised.
Seventy extra officers will now be recruited.
Police Commissioner John Dwyer said a public consultation supported the rise.
The force had expected £30m of budget cuts over the next four years but - as long as council tax also rises in future years - is now forecasting a funding increase of £1.1m by 2020.
Mr Dwyer said the new budget would "ensure the constabulary had the resources necessary to protect the people of Cheshire".
The number of police officers in the county will now increase to 2,053.
Residents in Band D properties will see taxes rise by £5 from April, meaning the portion of the bill payable to the police will be £161.23.
The force's council tax precept has increased in two of the past four years.
Cheshire Police is to raise its share of council tax by 3.2%, after the government announced a 1.4% cut to police funding.