A tax levy, under United States Federal law, is an administrative action by the Internal Revenue Service under statutory authority, generally without going to court, to seize property to satisfy a tax liability. The levy "includes the power of distraint and seizure by any means".

What happens when taxes are levied?

An IRS levy permits the legal seizure of your property to satisfy a tax debt. It can garnish wages, take money in your bank or other financial account, seize and sell your vehicle(s), real estate and other personal property.

What does levied property taxes mean?

A "levied property tax" is a tax imposed on property owners, based on the value of their property and the municipal government's needs. Property taxes are generally due once or twice a year, and failure to pay can result in serious consequences.