Leviable

Leviable refers to something that is subject to or capable of being assessed for and subject to the payment of a levy, tax, or duty. This term is often used in financial and legal contexts, particularly concerning the collection of funds by governments or organizations. It describes the characteristic of assets, income, or transactions that can be legally taxed or subjected to a required contribution. The concept implies an existing regulatory framework authorizing the imposition of the levy, and a clear determination of the basis and rate for assessing the charge.

Leviable meaning with examples

• The government announced that all imported goods exceeding a certain value would be considered leviable, contributing funds to new infrastructure projects. This measure was expected to increase state revenue.
• The financial regulations outlined the specific types of income considered leviable, including profits from investments and dividends. This would directly affect the taxation of personal wealth for investment returns.
• Property taxes are a common example of leviable assets, where the assessed value of a home is used to calculate the annual amount due. The local government relies on this for its revenue.
• After an environmental disaster, a special levy was declared on industries deemed responsible, making their profits leviable to cover cleanup costs. This aimed to place responsibility.
• The proposed legislation clarified which agricultural lands would be leviable for water usage fees, aiming to manage water scarcity and to promote efficient resource management.