Under which condition does a state jail felony apply in terms of property value?

A state jail felony is specifically applicable when a person commits theft of property valued at $2,500 or more but less than $30,000. This classification is significant because it denotes a particular severity in theft that distinguishes it from other theft offenses, which may involve lesser amounts.

In this context, the value range outlined in the correct answer captures the seriousness of the crime under state law, hence leading to penalties that include potential jail time in a state jail facility. The provisions surrounding state jail felonies serve to establish legal consequences for theft that involves a more considerable value of property, reflecting the greater impact of such offenses on victims and communities. The other options reflect either lower thresholds for theft that fall into different legal classifications or amounts that do not meet the criteria for a state jail felony.