On July 1, 2018, the threshold amount for a felony larceny will increase from $200 to $500. This is the first increase in the amount in Virginia in almost 40 years. The larceny threshold came as a political compromise which also increased the monitoring and the collection of restitution payments.
Under the new law, any larceny with a value of under $500 will be a misdemeanor, punishable by up to 12 months in jail and/or a $2,500 fine. The punishment for a felony larceny will continue to be up to 20 years in the prison. This change not only affects your typical theft crime, but any other criminal act that was deemed larceny in the code, or any crime that had the $200 threshold between a felony and misdemeanor.
This will likely mean that prosecutors will now be less likely to reduce felony grand larceny charges to misdemeanors, as the amount will now be higher to even be charged with that.
If you have been charged with a grand larceny or petit larceny, call the experienced criminal defense attorneys at Winslow and McCurry 804.423.1382.
