What is Levy?

Legal Definition
1. Legally ordered seizure and sale of property to satisfy a delinquent debt or judgment. The money obtained from such action is also called a levy.

2. A fine or tax.
Legal Definition
Practice. A seizure (q. v.) the raising of the money for which an execution has been issued.

2. ln order to make a valid levy on personal property, the sheriff must have it within his power and control, or at least withn his view, and if, having it so, he makes a levy upon it, it will be good if followed up afterwards within a reasonable time, by his takikng possession in such manner as to apprize everybody of the fact of its having been taken into execution. 3 Rawle R. 405-6; 1 Whart. 377; 2 S. & R. 142; 1 Wash C. C. R. 29; 6 Watts, 468; 1 Whart. 116. The usual mode of making levy upon real estate, is to describe the land which has been seised under the execution, by metes and bounds, as in a deed of conveyance. 3 Bouv. Inst. n. 3391.

3. It is a general rule, that hwen a sufficient levy has been made, the officer cannot make a second. 12 John. R. 208; 8 Cowen, R. 192. LEVYING WAR, crim. law. The assembling of a body of men for the purpose of effecting by force a treasonable object; and all who perform any part however minute, or however remote from the scene of action, and who are leagued in the general conspiracy, are considered as engaged in levying war, within the meaning of the constitution. 4 Cranch R. 473-4; Const. art. 3, s. 3. Vide Treason; Fries'Trial; Pamphl. This is a technical term, borrowed from the English law, and its meaning is the same as it is when used in stat. 25 Ed. III.; 4 Cranch's R. 471; U. S. v. Fries, Pamphl. 167; Hall's Am. Law Jo. 351; Burr's Trial; 1 East, P. C. 62 to 77; Alis. Cr. Law of Scotl. 606; 9 C. & P. 129.
-- Bouviers Law Dictionary
Legal Definition
n. In practice. A seizure; the raising of the money for which an exechtion has been issued. See Equitable levy.
-- Black's Law Dictionary
Legal Definition
V To raise; execute; exact; collect; gather; take up; seise. Thus, to levy (ralse or collect) a tax; to levy (raise or set up) a nuisance; to levy (acknowledge) a flne; to levy (inaugurate) war; to levy an execution, t. e, to levy or collect a sum of money on an execution. In reference to taxation, the word "levy" is used in two different senses. In the first place, and more properly, it means to lay or impose a tax. This is a legislative function, and includes a determination that a tax shall be imposed, and also the ascertainment of the amount necessary or desirable to be raised, the amount or rate to be imposed, and the subjects or persons to contribute to the tax. The ot>-ligation resulting from a "levy" in this sense falls upon the collective body of taxpayers or the community, not (as yet) upon individuals. But in another sense, it means the imposition of the tax directly upon the person or property involved (probably by analogy to the "levy" of an execution or other writ), and includes the assessment of persons or property, the entering of their several dues on the tax books, and the entire process of collecting the taxes. See State v. Lakeside Land Co., 71 Minn. 283, 73 N. W. 070; Morton v. Comptroller General, 4 Rich. (S. C.) 480; Emeric v. Alvarado, 64 Cal. 529, 2 Pac. 418; Moore v. Foote, 32 Miss. 479; Valle v. Fargo, 1 Mo. App. 347 ; Perry County v. Railroad Co., 58 Ala. 559; Rhoads v. Given, 5 Houst. (Del.) 186; U. S. v. Port of Mobile (C. C.) 12 Fed. 770.
-- Black's Law Dictionary
Legal Definition
To collect money. See 10 Miss. 383. To fix the rate of prop erty taxes. See 64 Cal. 529, 2 Pac. 418. A seizure and taking possession of property by an officer under a writ. See 84 Wis. 80, 36 Am. St. Rep. 907, 20 L. R. A. 267, 54 N. W 18.
-- Ballentine's Law Dictionary