What defines petty theft under Penal Code 488?

Petty theft, as defined under Penal Code 488, specifically refers to the unlawful taking of property that has a value of less than $950. This distinction is crucial, as it sets the threshold for what is considered petty theft versus grand theft, the latter being applicable when the value of the stolen property exceeds that amount. The classification of petty theft is important because it typically results in less severe penalties compared to grand theft, often treated as a misdemeanor rather than a felony.

Understanding this definition helps clarify the legal implications surrounding theft-related offenses and emphasizes the importance of the value of the property involved in determining the severity of the crime. Other options relate to different value thresholds or types of theft that fall outside the legal definition of petty theft under this specific section of the Penal Code.