levy

play

noun \ ˈle-vē \

Updated on: 26 Jul 2017

Definition of levy

plural levies

1 a :the imposition or collection of an assessment

The government imposed a levy on gasoline.

b :an amount levied

2 a :the enlistment or conscription of men for military service

b :troops raised by levy

turned green levies into fighting soldiers

See levy defined for English-language learners

See levy defined for kids

Examples of levy in a Sentence

the legislators approved a new levy on imported cattle to help protect American ranchers

Recent Examples of levy from the Web

For families and individuals, the current 7 brackets would shrink to four, and levies would fall across all income ranges.

— shawn tully, Fortune, "How America’s Most Prominent CEOs Decided to Ditch President Trump," 18 Aug. 2017
Revenue collected from customs taxes and and other taxes, including the zakat religious levy, also declined.

— vivian nereim, Bloomberg.com, "Saudi Arabia's Budget Deficit Narrows as Crude Revenue Rises," 13 Aug. 2017
Pew said there has been more bipartisan support for gas taxes than any other levy in state legislatures in recent years because of the need to expand transportation capacity in several states.

— julia o'donoghue, NOLA.com, "Most states (but not Louisiana) have raised their gas tax recently: report," 28 July 2017
Holland has pledged to do the same this summer; the 2018 Unified Government budget includes another mill levy reduction.

— katy bergen, kansascity, "Unified Government Mayor Holland faces four opponents in Tuesday’s primary," 28 July 2017
The E.U. has sworn to fight back if the Trump White House goes ahead and is reportedly already preparing measures, such as levies on American whiskey, rum, orange juice, potatoes, and tomatoes.

— annie lowrey, The Atlantic, "The Limits of 'Made in America' Economics," 20 July 2017
Such levies could also be used to regulate the flow of migrants, thus avoiding big, sudden surges.

— The Economist, "If borders were openA world of free movement would be $78 trillion richer," 13 July 2017
The county is responsible for maintaining 126 bridges and the increase to 2 cents brings the levy up to the state average.

— amy lavalley, Post-Tribune, "Doubling tax OK'd to help with county bridge repairs," 12 July 2017
More: Counts 12 and 13 of the lawsuit allege that Olympia Entertainment and Palace Sports and Entertainment cannot legally be reimbursed with funds from the levy of the 18-mills Detroit Public Schools’ Operating Millage.

— katrease stafford, Detroit Free Press, "NBA, Pistons added to lawsuit seeking November vote on $34.5M public funding for move," 10 July 2017

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'levy.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

Origin and Etymology of levy

Middle English, from Anglo-French levé, literally, raising, from lever to raise — more at lever

NEW! Time Traveler

First Known Use: 13th century

See Words from the same year

levy Synonyms

Synonyms

assessment, duty, imposition, impost, tax

Other Economics Terms

actuary, compound interest, globalization, indemnity, portfolio, rentier, stagflation, usurer

levy

verb

Definition of levy

levied; levying

transitive verb

1 a :to impose or collect by legal authority

levy a tax

b :to require by authority

2 :to enlist or conscript for military service

3 :to carry on (war) :wage

intransitive verb

:to seize property

—

levier

noun

See levy defined for English-language learners

Examples of levy in a Sentence

They levied a tax on imports.
The government will levy a fine on the company.

Recent Examples of levy from the Web

The city has been quick to point out the tax’s benefits. Levied on distributors, the tax raised $39.3 million in its first six months,

— laura mccrystal, Philly.com, "Report: Soda tax decreased sales in Philly, boosted sales beyond border," 21 Aug. 2017
Property taxes: There’s a constitutional prohibition on the state levying a property tax, but property taxes are a major source of revenue that keeps cities, counties and special-purpose districts operating.

— star-telegram, "Here’s what happened to Abbott’s agenda during the special session," 16 Aug. 2017
Plastics are one of humanity’s most wide-reaching, versatile and practical inventions, an influential creation arguably on par with the smelting of metal, but these unnatural materials have levied high ecological costs.

— aaron gilbreath, Longreads, "America’s Plastic Legacy," 10 Aug. 2017
If a junior senator could whip up such a frenzy with false charges of Establishment fecklessness, imagine how much hell a sitting president could raise by levying an honest one.

— eric levitz, Daily Intelligencer, "White House and McConnell Trade Barbs Over Trumpcare Failure," 9 Aug. 2017
In California, insurers can levy a surcharge on policyholders.

— chad terhune, Kaiser Health News, "Why One Insurer’s Collapse Could Whack Insurers, Policyholders Across the Country," 7 Aug. 2017
To study different effects, the researchers varied the amount of money that could be levied as a fine, creating weak and strong leaders.

— john timmer, Ars Technica, "New “bribery game” shows that sometimes, transparency makes things worse," 15 July 2017
Although Freeze’s lawsuit highlights that Freeze’s name doesn’t appear in the NOA, four of the 13 allegations levied against the football team concerned claims of misconduct that took place during Nutt’s tenure.

— michael mccann, SI.com, "Examining Houston Nutt's complicated lawsuit against Ole Miss," 12 July 2017
If the eight citations from FIFA and fines totaling around $124,000 levied against FMF are any indication, Abrazados por el Fútbol hasn’t been very effective.

— brian straus, SI.com, "CONCACAF takes measures to eradicate anti-gay fan chant at Gold Cup–and beyond," 6 July 2017

Origin and Etymology of levy

see ¹levy

NEW! Time Traveler

First Known Use: 14th century

See Words from the same year

levy Synonyms

Synonyms

conscribe, conscript, draft

Antonyms

remit

Related Words

impress, press; enlist, enroll (also enrol), recruit; call up; sign up, volunteer

Near Antonyms

discharge, muster out

Financial Definition of LEVY

levy

noun

What It Is

A levy is the seizure of property in order to repay debt. In the U.S., the IRS has the authority to levy. (For everybody else, this is called foreclosure or repossession.)

How It Works

Let’s assume John Doe owns a house in the country and hasn't filed a tax return for five years. The IRS catches up to him and sends him a $45,000 tax bill. John has fallen on hard times lately, and is unable to pay the taxes. Accordingly, the IRS levies the house.

Levies can be on property, wages, bank accounts or anything else of value. A levy is not the same as a lien. A levy actually takes the property; a lien just places a restriction on the sale or transfer of the property.

Why It Matters

Taxing authorities are always anxious to get their money, but they must give written notice to a taxpayer before levying a taxpayer's assets. States also have the authority to impose levies for the lack of payment of state income taxes.

Source: Investing Answers

LEVY Defined for English Language Learners

levy

play

noun

Definition of levy for English Language Learners

: an amount of money that must be paid and that is collected by a government or other authority

levy

verb

Definition of levy for English Language Learners

: to use legal authority to demand and collect (a fine, a tax, etc.)

LEVY Defined for Kids

levy

play

noun \ ˈle-vē \

Definition of levy for Students

plural levies

:something (as taxes) collected by authority of the law

levy

verb

Definition of levy for Students

levied; levying

:to collect legally

levy taxes

Law Dictionary

levy

play

noun \ ˈle-vē \

legal Definition of levy

plural levies

1 :an act of levying: as

a :the imposition or collection of a tax

b :the seizure according to a writ of execution of real or personal property in a judgment debtor's possession to satisfy a judgment debt

2 :an amount levied :tax

providing for a levy of 3% on income up to $10,000
—D. Q. Posin

levy

verb

legal Definition of levy

levied; levying

transitive verb

1 :to impose or collect (as a tax or fine) with authority

allow it to levy stiffer penalties for some safety violations
—National Law Journal

2 :to enforce or carry into effect (a writ of execution) — compare attach, garnish

intransitive verb

:to enforce a writ of execution or attachment; specifically :to make a seizure of real or personal property in a judgment debtor's possession

they might as a last resort levy on his merchandise
—J. J. White and R. S. Summers

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levy

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levier

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