Which term refers to the imposition of a tax?

The term that refers to the imposition of a tax is "levy." A levy is a legal mechanism by which a governmental authority collects funds from individuals or businesses, often through taxation. When a tax is imposed, it means the government has enacted a charge on income, property, or goods, which is defined and enforced by law. The process of levying a tax typically involves determining who is responsible for the payment and how much they owe, which is executed through lawful parameters.

In contrast, "assessment" pertains to the evaluation or estimation of a property’s value or the determination of the amount to be taxed, rather than the act of imposing the tax itself. "Exemption" refers to a situation where an individual or entity is free from certain taxes, and "commission" usually relates to a fee paid for services or a group of people appointed to perform specific tasks, rather than tax collection. Thus, "levy" accurately captures the essence of imposing a tax, while the other terms delineate different aspects of the taxation framework.