the modern english word 'toll' descends from the old english 'toll' or 'tol', which meant a payment or tax. this old english term is believed to have been borrowed from a medieval latin word 'tolōnium', meaning tollhouse, which itself likely originated from the greek 'telónion', also meaning tollhouse, derived from 'telos' meaning tax or duty. the semantic journey, therefore, connects the ancient concept of a tax or duty to the modern meanings of a payment for passage and, by metaphorical extension, the costly 'price' in lives from a disaster. the distinct verb meaning, to ring a bell, comes from a separate middle english origin related to attracting attention, perhaps by drawing or 'tolling' people, which later specialized for the slow, solemn ringing.

the word is a simplex of old english origin. it is not productively formed from smaller, independent morphemes in modern english.