25NL : A somewhat common situation

[Wondercall]

This is a spot I have been finding myself in more and more. Villain in this hand is your average pokerstars nit.

PokerStars No-Limit Hold'em, $0.25 BB (6 handed) internettexasholdem.com

SB ($101)
BB ($25)
UTG ($25.35)
MP ($4.50)
CO ($25.45)
Hero ($24.75)

Preflop: Hero is Button with 3[img]/images/graemlins/heart.gif[/img], 3[img]/images/graemlins/diamond.gif[/img].
<font color="#666666">2 folds</font>, <font color="#CC3333">CO raises to $1</font>, Hero calls $1, <font color="#666666">2 folds</font>.

Flop: ($2.35) 4[img]/images/graemlins/diamond.gif[/img], 9[img]/images/graemlins/spade.gif[/img], 7[img]/images/graemlins/heart.gif[/img] <font color="#0000FF">(2 players)</font>
<font color="#CC3333">CO bets $1.5</font>, Hero calls $1.50.

Turn: ($5.35) J[img]/images/graemlins/diamond.gif[/img] <font color="#0000FF">(2 players)</font>
CO checks, Hero checks.

River: ($5.35) 9[img]/images/graemlins/heart.gif[/img] <font color="#0000FF">(2 players)</font>
CO checks, Hero checks.

Final Pot: $5.35

When the hero checks the turn, are we betting for value or keeping the pot small. If we check behind on the turn, and the river bricks, are we betting the river?