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ii. The taxpayer shall file with the city an amended equipment <br /> declaration reflecting any changes in the information contained <br /> in any previous equipment declaration no less than once every <br /> ninety (90) days after the equipment is brought inside the city <br /> or, for equipment which is brought inside the city for a project <br /> of less than ninety (90) days duration, such amended <br /> declaration must be filed no later than ten (10) days after <br /> substantial completion of the project. Amended declarations for <br /> all other projects must be filed at least once every ninety (90) <br /> days after the equipment is brought inside the city. <br /> iii. The taxpayer need not declare any equipment for which the <br /> purchase price was less than two thousand five hundred dollars <br /> ($2,500). Such equipment shall be presumed to have been <br /> purchased in a municipality having a sales or use tax at a rate at <br /> least equal to the rate established pursuant to this chapter and <br /> such tax shall be presumed to have been paid to that <br /> municipality. <br /> b. Construction equipment located inside the city for thirty (30) <br /> consecutive days or less for which a declaration is properly filed, <br /> shall be subject to the tax in an amount calculated as follows: one <br /> twelfth (1/12) of the price of the equipment at the time it was <br /> purchased shall be multiplied by the rate established in this <br /> chapter. <br /> c. Construction equipment located inside the city for more than thirty <br /> (30) consecutive days, or equipment for which a declaration has <br /> not been properly filed, shall be subject to use tax on the full price <br /> of such equipment. <br /> 4. CONSTRUCTION MATERIALS OR CONSTRUCTION AND <br /> BUILDING MATERIALS: Upon the privilege of using or consuming <br /> within the city, construction and building materials purchased at retail <br /> for use in connection with new residential construction or new <br /> residential building projects, commercial, industrial or other <br /> nonresidential construction or building projects, whether purchased, <br /> leased or rented from sources inside or outside the city. <br /> 5. INCEPTION OF BUSINESS; INITIAL USE TAX: Any person who <br /> purchases or establishes a business inside the city shall file an initial <br /> use tax return and pay the tax levied by section 3.20.300 as follows: <br /> a. Existing Businesses: Use tax shall be due on tangible personal <br /> property, except inventory held for lease, rental or resale, which is <br /> 4 <br />