What is the defining value for theft of lost property in the fourth degree?

The defining value for theft of lost property in the fourth degree is indeed less than $500. This classification indicates that the law distinguishes between varying levels of theft based on the value of the property involved. In the context of fourth-degree theft, the lower threshold recognizes less serious offenses compared to higher degrees, which correspond to larger amounts. By setting the monetary value for fourth-degree theft at less than $500, the law aims to address less significant thefts with appropriate penalties and judicial processes. This is crucial for law enforcement and legal practitioners to understand, as it helps to categorize offenses correctly and apply the relevant legal standards.