The City Council shot down Mayor Bloomberg’s efforts to lower gun fees, but Hizzoner is still hoping to persuade members to back the measure, The Post has learned.

“This version of the bill is not going to happen,” said Councilman Peter Vallone (D-Queens), who introduced the legislation at the mayor’s request.

The council was outraged at his request to slash the $340 fee for original or renewal applications to between $25 and $110, depending on the type of permit.

But Bloomberg asked the council to dramatically lower the fees out of fear that a potential lawsuit from gun owners could undo other tight gun-control laws in the city.

Bloomberg spokesman Jason Post said the mayor was still negotiating the legislation with the council and was “optimistic” it would get passed.

Councilman Erik Dilan (D-Brooklyn) shot back: “At a time when the city is increasing permit fees for a whole range of items . . . it’s a tough message to send . . . that the first easing of any permit would be that of a gun permit.”