Also the deed doesn't have to report the actual sale price -- it can be recorded as "$10 plus other valuable consideration" or something like that. The tax office will send you a form asking you to report the sale price, but you are under no obligation to do so, and if you're smart, you won't (unless you're in the rare position of paying less than your house's tax appraisal value)!
The amount of any loans taken out is recorded though, so they'll know you borrowed $X to buy your house, but not necessarily the actual sale price.