If a nonconforming use or a building or other structure of nonconforming bulk sustains an amount of damage or destruction by any cause which in amount is appraised by a New York State certified appraiser to be 50% or more of its true value, the building, other structure or tract of land shall thereafter be only eligible for, and only occupied by, a conforming use. The damaged portions of the building or other structure shall, if rebuilt or reconstructed, conform to pertinent use and bulk regulations for the zoning district in which it is located. Where damage or destruction is appraised at less than 50% of the true value of the property, the property may be repaired or rebuilt for the same, but not a different, nonconforming use.