Levee is a formal reception or an embankment.
- The new consul was introduced at a levee near the embassy.
- After the levee broke, the town quickly evacuated.
Levy, as a verb, means to impose, enlist, or begin war.
- The court could levy a fine for misappropriating the funds.
- They are going to levy troops from the countryside.
- They want to avoid levying war at all costs.
Levy, as a noun, is a charge imposed or the act of levying money, property, or troops.
- The tax rate levy is a real challenge this year.
- The recent levy raised few troops for the military.