"Alright, here's how you fix theft/crimes:
Let's say you walk into a house and pick up a fork. I'm not saying you take it, you just use the grab button. First, the game checks to see who owns it. In this case, John Doe owns it. Then John Doe has a list attatched to him of all his possessions, which are rated on a scale of 0 - 100 in terms of how much he treasures it. The higher the rating, the bigger the chance he'll approach you and ask you to put the fork down. There is more leniency for a low rated item, but if you pick up his treasured family shield you have about half a second to put it down before he calls the guards.
Now let's say you add the fork to your inventory. If it's a low ranked item he might take it back from you, or even just say keep it if the value and ranking are low enough. However the the higher the rating + value of the item, the greater likely hood he will either attack or summon the guards.
Now then, let's say you stole John Doe's fork. It has a value of 1, but a treasure rating of 85 (it's a prized family fork). John might hunt you down to the ends of the earth looking for his fork, but the guards really don't give a [censored]: it's a fork. Maybe they'll aproach you if you're in the area. Now on the other hand let's say you steal his jeweled amulet. it only has a treasure rating of 60, but a value of 1500 gold. He reports it to the guards and goes back home, but the guards will be looking for you everywhere because you took something of value.
The amount of guards that come after you, how far they're willing to pursue you, and how quickly you're recognized in town depends on the severity of the crime, and the size of the bounty on your head. The NPC you stole from, or even the family/friends of an NPC your murder, will hunt you based on the "treasure value" of the item, or how much they like the NPC you murdered."
To further iterate, you could also have the developers set up common prices among objects in general and only have unique items have the according "treasure value". Pair that with the already existing disposition system, and you've got a good idea of how the world could work.
Also, polled since we all love big, shiny polls.