Online translators aren't identifying time as a verb for some reason and I want to know how to say for example:
You have to run the race again. I forgot to time it.
medir the appropriate verb?
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Indeed medir is the common verb:
Tienes que repetir la carrera, se me olvidó medir(te) el tiempo
El tiempo is often needed because medir by itself just means to measure and could equally apply to the length of the race. It is common to see with an indirect object in the sense of "to time [someone]". As mentioned in the comments, in some countries such as Argentina and Chile, tomar(le) tiempo may be used instead of medir(le) el tiempo:
Tienes que repetir la carrera, se me olvidó tomarte(te) el tiempo
Unfortunately, because both expressions can mean something else in different contexts (the former, meaning to take time [to do something], the latter, to measure the weather), I can't really gauge exact proportions of usage or get a feel for any deeper geographic variance.
You also have a more technical option which won't be used as much in speech, but exists nonetheless:
cronometrar. 1. tr. Medir con el cronómetro el tiempo de algo.
It's similar to English to clock someone (in the time, not speed, sense), and is formed on a similar base, cronómetro (which is more commonly used than chronometer in English and refers to most any clock that measures precise time as opposed to displaying the current time)