Not really. We use a "what's up, there's a fire?" version "Mi van, tűz van?"
But this "hol van a tűz" often used in a nostalgic mood when you miss the passion of the youth. It is also used when a performer doesn't put enough spirit in their performance, let it be music, acting, etc. In this meaning "tűz" is often used as a metaphor of discipline, spirit or passion.
So could it not literally mean "Where is the fire taking place? [so we can dispatch the firefighters to that location]"?
Indeed it means that literal meaning, too. If you call the emergency (112) for firefighters, they will ask this question.
And there is another level of figure of speech where it is related the things I mentioned above.
While "Where is the fire taking place" is a very strange wording in English (for me at least) this is a good approach to memorize the sentence.
Probably useful to know
In Hungary you can call 112 for Emergency in general and they can redirect to the suitable department, but you can call some of them directly:
- Dial 104 for medical emergency & ambulance
- Dial 105 for firefighters and catastrophy prevention
- Dial 107 for police
…and always prepare to provide your personal data even if you're just the one who makes the call; the exact location as precise you can; and whether somebody is in deadly danger, how many souls are treated, what special circumstances may be expected, etc.
"Gyere babám, lobbants lángra..." (It was a translation failure for 'Come on baby light my fire'—and somehow it never got popular :D ) (Note that "láng" is the flame, sometimes in the form of "lángnyelv", liretally "fire tongue".)