Return the value of the Taxonomy field set when creating post

Hi

I am trying to fetch and display which ever field of a taxonomy that has been set when post is created and saved …

i.e they have the choice of 2011, 2012, 2013 etc and say 2012 was selected out of the choice in the taxonomy.

How do I check which one was selected and then return the value…

I have tried get_terms and wp_get_post_terms but had not luck.

Could someone please point me in the right direction…many thanks