N.Y. Penal Law § 155.20

§ 155.20 Larceny; value of stolen property.\n For the purposes of this title, the value of property shall be\nascertained as follows:\n 1. Except as otherwise specified in this section, value means the\nmarket value of the property at the time and place of the crime, or if\nsuch cannot be satisfactorily ascertained, the cost of replacement of\nthe property within a reasonable time after the crime.\n 2. Whether or not they have been issued or delivered, certain written\ninstruments, not including those having a readily ascertainable market\nvalue such as some public and corporate bonds and securities, shall be\nevaluated as follows:\n (a) The value of an instrument constituting an evidence of debt, such\nas a check, draft or promissory note, shall be deemed the amount due or\ncollectable thereon or thereby, such figure ordinarily being the face\namount of the indebtedness less any portion thereof which has been\nsatisfied.\n (b) The value of a ticket or equivalent instrument which evidences a\nright to receive a transportation, entertainment or other service shall\nbe deemed the price stated thereon, if any; and if no price is stated\nthereon the value shall be deemed the price of such ticket or equivalent\ninstrument which the issuer charges the general public.\n (c) The value of any other instrument which creates, releases,\ndischarges or otherwise affects any valuable legal right, privilege or\nobligation shall be deemed the greatest amount of economic loss which\nthe owner of the instrument might reasonably suffer by virtue of the\nloss of the instrument.\n 3. Where the property consists of gas, steam, water or electricity,\nwhich is provided for charge or compensation, the value shall be the\nvalue of the property stolen in any consecutive twelve-month period.\n 4. When the value of property cannot be satisfactorily ascertained\npursuant to the standards set forth in subdivisions one and two of this\nsection, its value shall be deemed to be an amount less than two hundred\nfifty dollars.\n