levy

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Levy

1. To impose an obligation to pay. For example, a government may levy a tax.

2. To collect what is owed. For example, a creditor may levy a debt, meaning that it may collect it from the debtor.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

levy

(1) To assess. One may levy a tax or fine, which means to impose it. (2) To seize or collect, as when a creditor levies on assets by execution.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
The claim must be made in writing to the IRS and should include the name and address of the claimant, a description of the seized property, the party's basis for claiming an interest in the seized property, the name and address of the taxpayer who was originally levied upon, the IRS office that issued the levy or made the seizure, the date listed on the levy notice or actual copy of the levy notice, and any additional documents that support the claim.
After his first face-to-face talks with Mugabe since the elections, Mbeki ignored pleas for outside pressure to be levied upon the veteran Zimbabwean leader and demanded that things be allowed to run their course.
The Anguilla Government has issued new rates for the island's embarkation tax levied upon all guests traveling through its seaports.
"If a member of the military was deployed and returned to find they were levied upon, their bank account was levied upon because they didn't pay the taxes or their property was seized and a financial hardship resulted from the IRS service action, they could qualify for our service," Diehl said.
However, if they earn more than pounds 142 a week, then due to the various employment taxes levied upon them, they are allowed to keep just 30p of every pounds 1 they earn about this level.
The district's primary source of financial support is not passenger fares, but a payroll tax of 0.62 percent levied upon employers and self-employed people.
Chapter Four identifies debt and the poll tax levied upon all Jews by the Muslim state as significant reasons for episodic poverty.
The assets have allegedly been levied upon based on writs of execution issued by other district courts to satisfy a $116 million judgment against HLF.
(14) The statute, moreover, gives the judgment-creditor without a lien the right to "proceed against the judgment-debtor's property through other judicial process," and provides that "[s]uch judgment creditor proceeding by writ of execution acquires a lien as of the time of levy and only on the property levied upon." (15) Thus the statute expressly provides for executions without a previously acquired lien and creates a limited lien for such circumstance.
"No ad valorem tax shall be levied upon property by the State."
A TAO may, for example, order the IRS to release taxpayer property that has been levied upon, or order the IRS to cease an action, take an action, or refrain from taking an action regarding collection, immediate assessment in bankruptcy or receivership, or demand for payment of claims not pending in such proceedings, examination, or inspection as well as any other provision of law described in the TAO.
LAST week, the SPL decided that a 10-point penalty be levied upon any clubs forced into administration.