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The penalty for a third degree felony is a maximum of 5 years in jail and a $5,000 fine. If the property stolen is valued between $100 and $299, then the defendant will be charged with a 1st Degree Misdemeanor, which carries a maximum penalty of 1 year in jail and a $1000 fine.
The degree of offense is usually controlled by the value of the item stolen. For example, in Texas, the theft of a car worth $2,000 would result in a state jail felony, while a car worth $30,000 would be punished at a higher third degree level. Some states also make the theft of certain items automatic felonies.