Levy Definition

Levy To assess; raise; execute; exact; tax; collect; gather; take up; seize. Thus, to levy a tax; to levy a; to levy a fine; to levy war; to levy an execution, i.e., to levy or collect a sum of money on an execution. The obtaining of money by legal process through seizure and sale of property; the raising of the money for which an execution has been issued. A sheriff or other officer of the law can be ordered by a court to make a levy against any property not entitled to an exemption. The court can do this with an order of attachment, by which the court takes custody of the property during pending litigation, or by execution, the process used to enforce a judgment.

The order directs the sheriff to take and safely keep all non-exempt property of the defendant found within the county or as much property as is necessary to satisfy the plaintiff's demand plus costs and expenses. Adobe Cs4 Master Collection Torrent Windows 10. The order also directs the sheriff to make a written statement of efforts and to return it to the clerk of the court where the action is pending. This report, called a return, lists all the property seized and the date of seizure. The sheriff's act in taking custody of the defendant's property is the levy. A levy on real property is generally accomplished by giving the defendant and the general public notice that the defendant's property has been encumbered by the court order. This can be done by filing a notice with the clerk who keeps real estate mortgages and deeds recorded with the county.

A levy of tangible usually requires actual seizure. If the goods are capable of being moved around, most states insist that the sheriff actually take them into custody or remove them to another place for safekeeping with an independent person. If the property is bulky or cumbersome and removal would be impracticable and expensive, actual seizure is not necessary. The levy can be accomplished by removing an essential piece, such as the pinsetter in a bowling alley, or by services of the court demanding preservation of the property. The order can be served on the defendant or anyone else in possession of the property, and disobedience of it then can be punished as a of court. Often the order will permit levy against any property belonging to the defendant, but it will specify seizure of a unique item and allow something else of comparable value to be substituted only if the unusual item cannot be found.

An attempt to attach a debtor's property is effective only after a levy, and from that time on there is a lien on the attached property. This gives the plaintiff some security that he or she will be able to collect what is owed and, if first in time, establishes the plaintiff's priority at the head of the line of the defendant's creditors who might subsequently seek a levy upon a debtor's property. It can strengthen the plaintiff's bargaining position if the plaintiff is trying to settle the dispute with the defendant, and it may even create jurisdiction for the court over the defendant, but only to the extent of the value of the property subject to levy. To seize (take) property upon a writ of execution (an order to seize property) issued by the court to pay a money judgment granted in a lawsuit. The levy is actually made by a sheriff or other official at the request of the holder of the judgment (the winner in the lawsuit), and the property will be sold at a sheriff's sale to provide money to satisfy the unpaid judgment.

The act of a governmental legislative body, such as a board of supervisors or commissioners assessing a tax on all property, all sales, business licenses or anything or transaction which may be taxed. Thus, the county 'levies' a tax on businesses. The seizure of property to satisfy a judgment.

(See:,, ) levy noun,,,,,,,,,, setting aside of specific propprty,,,, levy verb,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Associated concepts: levy a tax, levy an assessment, wronggul levy See also:,,,,,,,,,,,,,,,,,,,,,,,,, levy. 3 the conscription of troops for service or a person conscripted in this way.

Define levy on. Levy on synonyms, levy on pronunciation, levy on translation, English dictionary definition of levy on. Levied, levying, levies v. Military organizations. A levy (plural levies) is a military force raised ('levied') in a particular manner. Typically this means units raised by conscription, but.

LEVY, practice. A seizure (q.v.) the raising of the money for which an execution has been issued.

In order to make a valid levy on personal property, the sheriff must have it within his power and control, or at least within 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 taking possession in such manner as to apprize everybody of the fact of its having been taken into execution. 405-6; 1 Whart. 142; 1 Wash C. 29; 6 Watts, 468; 1 Whart. 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. It is a general rule, that when a sufficient levy has been made, the officer cannot make a second.

208; 8 Cowen, R. Want to thank TFD for its existence?, add a link to this page, or visit.

Link to this page.

Property tax is the tax liability imposed on homeowners for owning real estate. Just about every municipality enforces property taxes on residents, using the revenue to fund programs and services for the entire community. The municipal tax authority sets a percentage rate for imposing taxes, called a levy rate, which is then calculated against the assessed value of each homeowner’s property ad valorem (literally, “according to value”).

The final determination is the individual property tax levy for that resident. Collectively, every resident’s tax levy determines the total revenue of the municipality’s property tax levy.

Levy Rate Variables The levy rates for property taxes can vary significantly among municipalities to accommodate the unique needs of the individual county. Factors such as the number of residents living in the municipality, the size of the school district, the amount of revenue left over from the previous year and the municipality’s revenue from other sources all directly affect the total property tax levy for the area in any given year.

In some municipalities, residential voters also directly influence the levy rate variable by voting on which services to offer to the community, increases and/or decreases in funding for specific services or purchases, or both. Calculating Property Tax Levies Most municipal tax authorities calculate the total property tax levy for the locale by projecting the needs of the county or city as a whole for that year, then calculating how large a budget is needed to cover the costs.

This amount is then calculated against the total value of all residential properties combined to determine the percentage rate of the property tax levy. To determine the tax levy for each residence, the municipality then applies the percentage rate to assessed value of the home, which is estimated beforehand by an independent appraiser. Paying Property Tax Levies The ways property taxes are levied and collected vary among municipalities, but most locales follow one of two basic methods. The first is a yearly imposition, in which residents receive notification of the coming year’s tax levy in early spring.

Residents then have between six and nine months to put aside the money to pay their tax levies, which the municipal tax authority collects once at the end of the year. The second is a quarterly imposition, where the tax authority divides each resident’s total yearly tax levy into four equal payments for the year. Residents then pay one-quarter of their full levy for the year every three months, reducing the financial hardship of paying the larger sum all at one time.

Exemptions Property tax levies are imposed only on residents who live in the municipality and own real property, whether it is mortgaged or not. Renters who lease their primary residence are not levied by the municipality. Download O Re Piya From Aaja Nachle Songs Pk. However, the nonresident property owners are levied. In some locales, vacation or seasonal homes are exempt from property taxes, or charged a reduced levy, especially if the homeowner maintains primary residence within the same county or state.

Many municipalities also offer additional exemptions to certain residents, such as retired or disabled veterans, disabled senior citizens and homeowners living below the poverty level. These exemptions vary significantly from county to county, however, as the municipality is responsible for making such a determination.