Past tense of levy, meaning to impose or collect a tax, fine, or charge. To raise or gather resources, especially money, through official authority.
From Old French lever (to raise), from Latin levare (to lift, make light). The financial sense comes from the idea of 'raising' money from the population, literally lifting it up to the authorities.
The connection between 'levy' and 'levitate' isn't accidental - both come from Latin levare, meaning to lift or make light. Medieval tax collectors were literally 'lifting' coins from taxpayers' purses, giving us this bureaucratic metaphor.
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