The crime of theft means depriving a rightful owner of goods or services. The type and degree of the crime depends largely on the value of what is stolen, with more severe penalties being imposed for higher values. Valuation of the goods or services is thus critical to outcome of a theft prosecution.

In Florida law, there are two basic types of theft.

Petit theft, also known as petty theft, covers property up to $750 in value. Penalties range from 60 days in jail and a fine of up to $500, if the property is worth less than $100, to one year in jail and a fine of up to $1,000, if the property stolen is between $100 and $750 in value.

Grand theft involves property of higher value and is considered a more serious crime. It is categorized into three degrees based on the value of the stolen property:

1. Third degree — This is charged when the value of the stolen property is between $750 and $20,000. It also applies to certain specified properties like firearms, motor vehicles, and commercially farmed animals, regardless of their value. Third-degree grand theft is a third-degree felony, punishable by up to 5 years in prison, 5 years of probation, and a $5,000 fine.

2. Second degree — This applies to theft of property valued between $20,000 and $100,000. It also includes theft of emergency medical equipment valued at $300 or more and law enforcement equipment valued at $300 or more. Potential penalties including up to 15 years in prison, 15 years of probation, and a $10,000 fine.

3. First degree — This most severe form of theft involves property valued at over $100,000. It can lead to penalties of up to 30 years in prison, 30 years of probation, and a $10,000 fine.

Since the value of stolen property plays such a critical role, there must be an accurate valuation to ensure an accurate classification of the theft. The alleged victim’s statement of what the property is worth is not determinative. Several factors are considered is assessing the property’s worth:

1. Fair market value — This can be established by recent sales of similar items, expert appraisals or standardized price listings.

2. Replacement cost — This is the cost of purchasing a new item of similar kind and quality.

3. Actual value — For items that are not new, the actual value may take into account depreciation due to wear and tear, age and usage.

• Condition and rarity — Rare or antique items that are in good condition may be valued higher based on their desirability in collectors' markets.

In instances where multiple items are stolen in a single event, the values of all the items are aggregated to determine the total value of the theft. This can elevate the severity of the charges if the cumulative value reaches a higher theft classification threshold.

Accurate valuation is crucial because it determines the severity of the charges and the potential penalties that can be imposed. Disputes over the value of stolen items can be a significant aspect of theft cases, often requiring expert testimony and detailed evidence. An experienced criminal defense attorney can take measures to ensure that the value of the property has not been inflated and can negotiate reductions in charges based on alternative evidence.

The Law Offices of Tad A. Yates, P.A. in Orlando has deep experience providing robust criminal defense against a wide range of theft charges for Florida clients. Call us at 407-608-7777 or contact us online to schedule a free initial consultation.