Theft is defined as the unlawful and intentional taking of another person’s property with the intent to deprive that person of said property permanently
Petty Theft
A property’s value, in most states, will establish if a crime is charged as a felony or a misdemeanor. For example, petty theft in many states involves property valued at less than $1,000.
Felony Theft
Felony theft sometimes referred to as grand theft, is when the value of the property stolen exceeds that of petty theft. The value of the stolen is usually based on market value, not replacement value.
For example, if someone stole an eight-year-old television, such an item’s value would have depreciated substantially. The value used to determine the offense category would be the depreciated amount.
A problem arises when the stolen property value is higher than the minimum threshold of petty theft.
Other jurisdictions have carved out exceptions to these types of laws. For example, the grand theft auto charge, no matter the vehicle’s market value, will demand felony charges and stiff penalties due to the dangerous nature of the crime.
