If the value of the stolen property is valued at $1,200, yes, grand larceny will be charged as a felony in Nevada. Alternatively, if a firearm or motor vehicle is the stolen property in question, the grand larceny charge will automatically become a felony. Grand larceny penalties can vary, but the penalty increases as the value of the stolen property increases. On the other hand, grand larceny charges are considered misdemeanors in Nevada if the value of the goods, services, or property stolen is less than $1,200. If convicted of a grand larceny misdemeanor, you will likely be facing up to six months in jail and a fine of $1,000.