(A) No person, by means of fire or explosion, shall knowingly cause, or create a substantial risk of physical harm to any property of another without his consent.
(B) Whoever violates this section is guilty of arson.
(1) Except as otherwise provided in the following division, violation of this section is a misdemeanor of the first degree.
(2) If the value of the property or the amount of physical harm involved is more than $500 then the violation shall be prosecuted under R.C. § 2909.03 as a felony in the appropriate court of competent jurisdiction.
(R.C. § 2909.03) ('81 Code § 131.02) Penalty, see § 130.99