N.Y. Laws » CHAPTER Penal / PART Specific Offenses / TITLE Offenses Involving Theft / ARTICLE Larceny
New York Consolidated Laws

N.Y. Penal Law § 155.20 (2026)

Larceny; value of stolen property

✓ current as of May 2026
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§ 155.20 Larceny; value of stolen property.
  For the purposes of this title, the value of property shall be
ascertained as follows:
  1. Except as otherwise specified in this section, value means the
market value of the property at the time and place of the crime, or if
such cannot be satisfactorily ascertained, the cost of replacement of
the property within a reasonable time after the crime.
  2. Whether or not they have been issued or delivered, certain written
instruments, not including those having a readily ascertainable market
value such as some public and corporate bonds and securities, shall be
evaluated as follows:
  (a) The value of an instrument constituting an evidence of debt, such
as a check, draft or promissory note, shall be deemed the amount due or
collectable thereon or thereby, such figure ordinarily being the face
amount of the indebtedness less any portion thereof which has been
satisfied.
  (b) The value of a ticket or equivalent instrument which evidences a
right to receive a transportation, entertainment or other service shall
be deemed the price stated thereon, if any; and if no price is stated
thereon the value shall be deemed the price of such ticket or equivalent
instrument which the issuer charges the general public.
  (c) The value of any other instrument which creates, releases,
discharges or otherwise affects any valuable legal right, privilege or
obligation shall be deemed the greatest amount of economic loss which
the owner of the instrument might reasonably suffer by virtue of the
loss of the instrument.
  3. Where the property consists of gas, steam, water or electricity,
which is provided for charge or compensation, the value shall be the
value of the property stolen in any consecutive twelve-month period.
  4. When the value of property cannot be satisfactorily ascertained
pursuant to the standards set forth in subdivisions one and two of this
section, its value shall be deemed to be an amount less than two hundred
fifty dollars.
Notes of Decisions
Cited in 106 cases (5 in the last 5 years), 1985–2024 · leading case: People v. James, 111 A.D.2d 254 (N.Y. App. Div. 1985).
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People v. James, 111 A.D.2d 254 (N.Y. App. Div. 1985). · cites it 2× “The prosecution must establish the market value of the stolen property at the time and place of the crime or the cost of replacement within a reasonable time thereafter (Penal Law § 155.20). The only trial testimony on value was that of the complainant, who stated that he…”
People v. Barnes, 139 A.D.3d 1371 (N.Y. App. Div. 2016). “Contrary to defendant’s assertion, the evidence is legally sufficient to support the conviction with respect to criminal mischief in the third degree under count five of the indictment inasmuch as replacement cost is a legally sufficient basis to establish the requisite value of…”
People v. Vientos, 164 A.D.2d 122 (N.Y. App. Div. 1990). · cites it 3× “Penal Law § 155.20 (1) provides that "value means the market value of the property at the time and place of the crime, or if such cannot be satisfactorily ascertained, the cost of replacement of the property within a reasonable time after the crime.”
People v. Sanon, 2020 NY Slip Op 3 (N.Y. App. Div. 2020). · cites it 2× “As to the value of stolen items, "[t]he value of an instrument constituting an evidence of debt, such as a check," whether or not the instrument has been issued or delivered, is "the amount due or collectible thereon or thereby, such figure ordinarily being the face amount of…”
People v. Bayusik, 192 A.D.2d 1073 (N.Y. App. Div. 1993). · cites it 4× “Because used gravestones generally do not have an ascertainable market, their value is based on "the cost of replacement of the property within a reasonable time after the crime” (Penal Law § 155.20 [1]). When determining replacement cost, however, the item’s value must be…”
People v. Sutherland, 102 A.D.3d 897 (N.Y. App. Div. 2013). · cites it 2× “when the value of the property exceeds three thousand dollars” (Penal Law § 155.35 [1]). Value is defined as “the market value of the property at the time and place of the crime, or if such cannot be satisfactorily ascertained, the cost of replacement of the property within a…”
People v. Morgan, 111 A.D.3d 1254 (N.Y. App. Div. 2013). “The value of stolen property *1257 is “the market value of the property at the time and place of the crime, or if such cannot be satisfactorily ascertained, the cost of replacement of the property within a reasonable time after the crime” (Penal Law § 155.20 [1]). It is well…”
People v. Geroyianis, 96 A.D.3d 1641 (N.Y. App. Div. 2012). “The value of stolen property is “the market value of the property at the time and place of the crime, or if such cannot be satisfactorily ascertained, the cost of replacement of the property within a reasonable time after the crime” (Penal Law § 155.20 [1]). The People therefore…”
People v. Smith, 289 A.D.2d 1056 (N.Y. App. Div. 2001). “In the absence of legally sufficient proof of value of the van, its value shall be deemed less than $250 (see, Penal Law § 155.20 [4]). “[Sjince the record clearly demonstrates proof beyond a reasonable doubt of the commission of larceny by defendant, even in the absence of…”
People v. Butcher, 2021 NY Slip Op 01291 (N.Y. App. Div. 2021). “"In this context, value is defined as 'the market value of the property at the time and place of the crime, or if such cannot be satisfactorily ascertained, the cost of replacement of the property within a reasonable time after the crime'" ( People v Helms , 119 AD3d 1153, 1154…”
People v. Slack, 137 A.D.3d 1568 (N.Y. App. Div. 2016). “The value of stolen property is “the market value of the property at the time and place of the crime, or if such cannot be satisfactorily ascertained, the cost of replacement of the property within a reasonable time after the crime” (Penal Law § 155.”
People v. Medjdoubi, 63 A.L.R. 5th 849 (N.Y. Sup. Ct. 1997). · cites it 2× “) The term "value” as defined in Penal Law § 155.20 (1), "means the market value of the property at the time and place of the crime, or if such cannot be satisfactorily ascertained, the cost of replacement of the property within a reasonable time after the crime.”
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