Which items are considered in determining the value for theft classifications?

• A. Fair market value at time and place of offense
• B. Cost of replacing property
• C. All of the above
• D. Value of documents

Answer: (C)

The key idea is that theft classifications are based on the economic value of what was stolen, using the most relevant measure of value for the situation. The most common baseline is the fair market value at the time and place of the offense — what a willing buyer would pay a willing seller in that moment. But that isn’t the only measure prosecutors and courts use. If the item doesn’t have a clear market price, or if replacing it is the practical harm, the cost to replace the item can be used to determine value. For certain items, especially documents, the value can also include what it costs to reproduce or replace the document, or the harm caused by its loss. Because theft cases can involve a wide range of property, these different measures—fair market value, replacement cost, and the value of documents—may all be relevant. That’s why all of the above are considered when assigning theft classifications.