/ ˈlevi; NAmE / noun , verb
■ noun
( pl. -ies ) levy (on sth) an extra amount of money that has to be paid, especially as a tax to the government :
to put / impose a levy on oil imports
➡ note at tax
■ verb
( lev·ies , levy·ing , lev·ied , lev·ied ) [ vn ] levy sth (on sb/sth) to use official authority to demand and collect a payment, tax, etc. :
a tax levied by the government on excess company profits
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WORD ORIGIN
Middle English (as a noun): from Old French levee , feminine past participle of lever raise, from Latin levare , from levis light.