Legal Definitions - levy

Definition: Levy means to legally take someone's property and sell it to pay off a debt or a court order. The money collected from the sale is also called a levy. It can also refer to a fine or tax that someone has to pay.

• If you owe money to the government and don't pay it, they can levy your bank account or take your car to sell it and get their money back.
• When you buy a house, you have to pay a property tax every year. This tax is a type of levy that goes towards paying for things like schools and roads.

The first example shows how a levy can be used to collect a debt. If you owe money and don't pay it, the government can take your property and sell it to get their money back. The second example shows how a levy can be used to collect taxes. When you own property, you have to pay a tax every year, which is a type of levy. This tax helps pay for things that benefit the community, like schools and roads.