1

levy

noun \ ˈle-vē \
Updated on: 9 Nov 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

Examples of levy in a Sentence

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

Recent Examples of levy from the Web

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


2

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

Examples of levy in a Sentence

  1. They levied a tax on imports.

  2. The government will levy a fine on the company.

Recent Examples of levy from the Web

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

see 1levy

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

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.


LEVY Defined for English Language Learners

levy

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

1

levy

noun \ ˈle-vē \

Definition of levy for Students

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

2

levy

verb

Definition of levy for Students

levied; levying
:to collect legally
  • levy taxes

Law Dictionary

1

levy

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

2

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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