Definitions

from The American Heritage® Dictionary of the English Language, 4th Edition

  • transitive v. To impose or collect (a tax, for example).
  • transitive v. To draft into military service.
  • transitive v. To declare and wage (a war).
  • intransitive v. To confiscate property, especially in accordance with a legal judgment.
  • n. The act or process of levying.
  • n. Money, property, or troops levied.

from Wiktionary, Creative Commons Attribution/Share-Alike License

  • v. To impose (a tax or fine) to collect monies due, or to confiscate property
  • v. To draft someone into military service
  • v. To wage war
  • n. The act of levying
  • n. The tax, property or people so levied

Etymologies

Middle English levien, from leve, levy, tax, from Old French levee, from feminine past participle of lever, to raise; see lever.
(American Heritage® Dictionary of the English Language, Fourth Edition)
From Anglo-Norman leve, from Old French levee, from lever "to raise". (Wiktionary)

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