The council says the increase is to meet the rising costs and demand on services as funding from central government has been slashed.
The 2020/21 initial budget proposals will now be considered by councillors and stakeholders, together with a survey running on the council’s website after the executive board meeting on January 7.
This is how much each council tax band will rise to next year - should the 3.99 per cent rise be approved.
These figures are an estimate based on the percentage rise announced today and do not represent your final bill.
Some towns and villages around Leeds also charge a council tax surcharge on top of what is owed to Leeds Council, police and fire.
Council tax figures for 2020/21
Band A (reduced rate for disability discount) £913.83 to £950.29
Band A £1,096.60 to £1,140.35
Band B £1,279.37 to £1,330.42
Band C £1,462.13 to £1,520.47
Band D £1,644.90 to £1,710.53
Band E £2,010.43 to £2,090.65
Band F £2,375.97 to £2,470.77
Band G £2,741.50 to £2,850.89
Band H £3,289.80 to £3,421.06