Levy Meaning and Definition
Levy
Pronunciation
/ˈlɛvi/
Part of Speech
Noun and verb
Definition
A levy is a tax or a demand for payment, especially one imposed by a government or other authority. As a verb, to levy means to impose or collect a tax, fee, or other payment.
Examples
- The government imposed a levy on luxury goods to raise revenue.
- The company will levy a fee on customers who pay their bills late.
Synonyms
- Tax
- Duty
- Assessment
Antonyms
- Rebate
- Discount
Additional Information
A levy can take many forms, including a sales tax, property tax, or import duty. It is often used to fund public goods and services, such as infrastructure, education, and healthcare. In some cases, a levy may be imposed on specific industries or activities, such as a carbon tax on fossil fuel producers. The word “levy” can also be used in a broader sense to refer to any kind of demand or assessment, such as a levy on one’s time or resources. In modern times, levies are often imposed by governments to address specific social or economic issues. For example, a sugar levy might be imposed to discourage the consumption of sugary drinks and raise revenue for public health initiatives. Similarly, a carbon levy might be imposed to discourage companies from producing greenhouse gas emissions and invest in renewable energy. Levies can be progressive, meaning that they are structured to affect wealthy individuals or corporations more than poorer ones. Alternatively, they can be regressive, meaning that they disproportionately affect low-income households or individuals. The use of levies can be fraught with controversy, as they can be seen as an infringement on personal liberty or an excessive burden on businesses. However, they can also be an effective way to raise revenue and address social and economic challenges.
Etymology
The word “levy” comes from the Old French word “levée,” meaning “raised” or “collected.” It is derived from the Latin word “levare,” meaning “to raise” or “to lift.” The verb form of “levy” has been used in English since the 14th century, while the noun form has been used since the 15th century.
Usage Notes
In British English, the word “levy” is often used to refer to a tax or a demand for payment, especially one imposed by a government or other authority. In American English, the word “tax” is more commonly used in this context. However, both words can be used interchangeably in many cases. When using the word “levy” as a verb, it is often used in the context of imposing or collecting a tax or fee. For example, “The government will levy a tax on luxury goods to raise revenue.” In this case, the word “levy” is used to describe the action of imposing the tax. In some cases, the word “levy” can be used in a broader sense to refer to any kind of demand or assessment. For example, “The company will levy a fee on customers who pay their bills late.” In this case, the word “levy” is used to describe the action of imposing the fee.
Cultural References
The word “levy” has been used in various cultural contexts, including literature, music, and film. For example, in the novel “The Count of Monte Cristo” by Alexandre Dumas, the protagonist Edmond Dantès is wrongly accused of treason and forced to pay a heavy levy on his property. In music, the word “levy” has been used in song titles and lyrics to refer to taxes, fees, or other forms of payment. For example, the song “Levy on the Land” by the band The Decemberists refers to a tax imposed on farmers during the American Civil War. In film, the word “levy” has been used in movie titles and dialogue to refer to taxes, fees, or other forms of payment. For example, the movie “The Levy” (2019) is a drama film about a family who must pay a heavy levy on their property to avoid foreclosure.
Idiomatic Expressions or Phrases
There are several idiomatic expressions or phrases that use the word “levy.” For example: * “To levy war” means to declare war or engage in military action. * “To levy a tax” means to impose a tax or demand payment from someone. * “To be levied on” means to be subject to a tax or fee. * “To levy an assessment” means to evaluate or estimate the value of something, often for tax purposes. These phrases are often used in formal or technical contexts, such as law, finance, or government.
Related Words or Phrases
There are several words or phrases that are related to the word “levy” in meaning or usage. For example: * Tax: a compulsory payment or contribution imposed by a government on its citizens or businesses. * Duty: a payment or tax imposed on goods or services, especially imports. * Assessment: an evaluation or estimation of the value of something, often for tax purposes. * Fee: a payment or charge for a service or activity, especially one imposed by a government or other authority. These words and phrases are often used interchangeably with “levy” in many contexts.
Collocations
The word “levy” can be used in various collocations, or word combinations, to convey different meanings. For example: * “To levy a tax on” means to impose a tax on something or someone. * “To levy a fee for” means to charge a fee for a service or activity. * “To be levied on” means to be subject to a tax or fee. * “To levy an assessment on” means to evaluate or estimate the value of something, often for tax purposes. These collocations are often used in formal or technical contexts, such as law, finance, or government.
Frequency of Use
The word “levy” is not commonly used in everyday conversation, but it is often used in formal or technical contexts, such as law, finance, or government. According to the Corpus of Contemporary American English (COCA), the word “levy” is used approximately 0.05% of the time in written English. However, the word “levy” is more commonly used in certain industries or professions, such as law, finance, or government. In these contexts, the word “levy” may be used more frequently to refer to taxes, fees, or other forms of payment.
Common Misspellings
There are several common misspellings of the word “levy,” including: * “Levie” * “Levy” * “Levi” * “Levyed” These misspellings are often due to the word’s unusual spelling or pronunciation.