Levy Meaning: Definition, Examples, and Translations
๐ฐ
levy
[หlษvi ]
Definitions
tax
A tax or fee imposed by a government on a product, income, or activity.
Synonyms
assessment, duty, tax.
Which Synonym Should You Choose?
Word | Description / Examples |
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levy |
Used when talking about the act of imposing a tax, fee, or fine by an authority.
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tax |
A general term for money that people and businesses must pay to the government, used in a wide range of contexts.
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duty |
Often refers to a specific kind of tax imposed on imported and exported goods or certain activities.
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assessment |
Commonly used in the context of evaluating property or determining the value or amount of something, often for tax purposes.
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Examples of usage
- The government introduced a new levy on sugary drinks to reduce consumption.
- An environmental levy is charged on plastic bags in an effort to decrease pollution.
- The levy on imported goods has been increased to protect local industries.
legal
A legal seizure of property to satisfy a debt.
Synonyms
attachment, confiscation, seizure.
Which Synonym Should You Choose?
Word | Description / Examples |
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levy |
This word is used when referring to the act of imposing a tax, fee, or fine on someone. It is often used in legal and financial contexts.
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seizure |
Used when something is taken forcefully or by legal right, often by law enforcement or government authorities. It can be negative, indicating a lack of consent.
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confiscation |
Used to describe the act of taking property with authority, usually as a penalty. It often carries a negative connotation as it involves loss of property.
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attachment |
This word is often used in legal settings to describe the seizure of property to secure the payment of a debt. It can also refer to an emotional bond, but in the legal sense, it is about property.
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Examples of usage
- The bank issued a levy on the company's assets to recover the outstanding loan.
- If the debt is not repaid, the authorities may proceed with a levy on the property.
Translations
To see the translation, please select a language from the options available.
Interesting Facts
History
- Governments have levied taxes since ancient times, from Mesopotamia's grain taxes to Roman taxes on property and inheritances.
- The Magna Carta of 1215 limited the king's power to levy taxes without the consent of the barons, establishing principles of fair taxation.
- Levying was also used in wartime to fund armies, leading to practices such as conscription in the 18th and 19th centuries.
Law
- In legal terms, a levy is not just about taxes; it can also refer to seizing property to satisfy a debt or judgment.
- Wage garnishments and property liens are types of levies used by the government to recover owed money.
- Different jurisdictions have varying laws regarding how and when a levy can be executed.
Economics
- Levies can influence economic behavior by impacting how much money individuals or businesses keep after taxes.
- They can be based on income, property value, or even specific goods or services, showing the versatility of financial policy.
- Governments may levy additional fees for specific services, such as tolls on roads, illustrating the relationship between taxes and public infrastructure.
Pop Culture
- Movies often depict characters facing the consequences of heavy levies, representing the struggle against financial hardship.
- In video games, 'levy' can refer to characters or factions gathering resources or enacting taxes to strengthen their positions.
- Political songs and literature frequently critique the burdens of levies, reflecting the societal impact of taxation on everyday life.
Origin of 'levy'
Main points about word origin
- The term comes from the Old French word 'lever', meaning to raise or lift, which is fitting as it raises funds.
- It entered English in the late 14th century, primarily in the context of tax collection or military conscription.
- Originally, it referred to the act of raising troops or resources in times of need.
The word 'levy' originated from Old French 'lever' meaning 'to raise' or 'lift'. It was initially used in the context of raising troops or funds for military purposes. Over time, it evolved to include the idea of imposing taxes or fees by governments. The concept of levy has been integral to financial and legal systems for centuries, playing a crucial role in revenue generation and debt recovery.
Word Frequency Rank
At #5,291 in frequency, this word belongs to advanced vocabulary. It's less common than core vocabulary but important for sophisticated expression.
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- 5288 whatsoever
- 5289 containers
- 5290 depressed
- 5291 levy
- 5292 vitamin
- 5293 fertility
- 5294 kindness
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