Theft of money or property with a total value of less than $2,000 is categorized as the misdemeanor offense of petit, or petty, larceny. For example, stealing a bicycle worth $200 and several tools valued at $500 altogether would be considered a misdemeanor petty theft since the total value of items taken adds up to only $700. Persons convicted of petty theft could be penalized by either a fine of up to $1,000 or confinement in jail of up to 30 days.