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 officially appraised to be 80% 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 or structure. The damaged portions of a building or other structure may be rebuilt or reconstructed within one year, so long as the nonconformity is not increased or expanded, if the damage is less than 80% of true value.