taxation vs levy

taxation and levy both are nouns.

Word	Noun	Adjective	Verb	Adverb
taxation	Yes	No	No	No
levy	Yes	No	Yes	No

As nouns, levy is a hypernym of taxation; that is, levy is a word with a broader meaning than taxation:

taxation: charge against a citizen's person or property or activity for the support of government
levy: a charge imposed and collected

taxation (noun)	levy (noun)
the imposition of taxes; the practice of the government in levying taxes on the subjects of a state	the act of drafting into military service
charge against a citizen's person or property or activity for the support of government	a charge imposed and collected
government income due to taxation

taxation (verb)	levy (verb)
	cause to assemble or enlist in military
	impose and collect