They can have a timeout. You can take away a privilege (such as TV). I would also recommend the book Love and Logic. Not sure who wrote it, but the basic idea is to talk to the child and to make the consequence fit the crime (both in severity but also from a common sense standpoint). For example, spanking a kid that tagged something might not be as powerful as having him/her clean it up and do community service.
You can help the HubPages community highlight top quality content by ranking this answer up or down.