Virginia retains the common law definition of larceny for the offense. Larceny is defined as the trespassory taking and carrying away of the property of another with the intent to permanently deprive the owner of that property.
The larceny could be considered Petit Larceny or Grand Larceny depending on the value of the property or the nature of the property regardless of value.
Penalty for Petit Larceny in Virginia
The punishment for Petit Larceny is codified at Code of Virginia § 18.2-96. Petit Larceny is punishable as a Class 1 misdemeanor if a person either commits simple larceny of goods and chattels of the value of less than $200 or commits larceny from the person of another of money or other thing of value of less than $5 (i.e. pickpocketing.)
Penalty for Grand Larceny in Virginia
The punishment for Grand Larceny is codified at Code of Virginia § 18.2-95. Grand larceny is punishable by imprisonment in a state penitentiary for 1 to 20 years or 12 months in a local jail and a $2500 fine. A person commits grand larceny if: (1) the value of the property is $200 or more, (2) the stolen property is a firearm, or (3) there is a larceny from a person and the value of the stolen property exceeds $5.