Official Site of The State of New Jersey

Who is required to complete and sign a GIT/REP form 1, 2 or 3 to record a deed?

A GIT/REP-1, -2, or -3 form must be completed by the person who is required to sign the deed for the sale or transfer of real property. Authorized signers can be the resident or nonresident seller/grantor or the authorized representative. An authorized representative must have a signed Power of Attorney document or a Letter of Authority.

Who is exempted from completing and signing a GIT/REP form 1, 2 or 3 to record a deed?

The only exceptions are for sheriff's sales and bankruptcy trust sales.

If a GIT/REP-3 is applicable and properly filled out, does the GIT/REP-1 need to be filled out?

If a GIT/REP-3 exemption is applicable and properly claimed, the GIT/REP-1 does not need to be filled out.

Who is required to complete a GIT/REP-4 form to record a deed?

The form is completed by the grantor, transferor, buyer, grantee, or authorized representative. No signature is required.

When can the GIT/REP-4A form be used?

The form may be used for corrective deed situations, such as when the originally filed deed had a typographical or spelling error, the metes and bounds description was incorrect, and the like – provided there is no change in the amount of consideration.

Who is required to complete and sign a GIT/REP-4A form to record a deed?

The form is completed and signed by the buyer, grantee, or authorized representative. An authorized representative must have a signed Power of Attorney document or a Letter of Authority.

Do I need to submit the GIT/REP-4A to the Division of Taxation?

No, once you complete the GIT/REP-4A, you do not need to submit it to the Division. Once completed and signed, you can submit the GIT/REP-4A and the RTF-1 with the corrected deed to the county clerk’s office for recording.

I am a New Jersey resident individual, estate, or trust. Which form am I required to complete & sign in order to record the deed?

A New Jersey resident individual, estate, or trust must complete and sign the GIT/REP-3 form in order to record the deed.

I am not a New Jersey resident individual, estate, or trust. Which form am I required to complete and sign in order to record the deed?

A nonresident individual, estate, or trust is required to complete and sign the GIT/REP-1 (at closing) or GIT/REP-2 (pre-closing) form in order to record the deed, unless the nonresident individual, estate, or trust meets one of the seller's assurances listed on the GIT/REP-3 form.

Is a taxpayer listed on a deed as having life estate rights required to complete any GIT/REP forms?

Yes, a taxpayer listed on a deed as having a life estate is required to complete Forms GIT/REP-1, GIT/REP-2, GIT/REP-3, GIT/REP-4, or GIT/REP-4A where applicable. See GIT/REP Forms.

Is a GIT/REP form required for master deeds, leases, or deeds of easement?

No, a GIT/REP form is not required for master deeds, leases, or deeds of easement.

When there are two or more owners selling real property in New Jersey, are separate GIT/REP forms required to be completed and signed?

Yes, except for married couples who intend to file a joint New Jersey Gross Income Tax return. Married couples who intend to file separately are required to complete and sign separate forms.

I have a deed that was executed and transacted prior to the effective date of the law. Am I still required to complete and sign a GIT/REP form?

Yes. A GIT/REP-4 form must be submitted to the Division of Taxation, GIT/REP Unit for approval. The original form will be returned with the Division's Seal to be recorded with the deed. The form should list the grantor as the owner. While a grantee can seek a waiver under a variety of circumstances, it is still the grantor who must be listed on form GIT/REP-4. No signature is required.

What is a resident taxpayer?

A resident taxpayer is one of the following:

• An individual who is and intends to continue to maintain a permanent place of abode (home, residence) in New Jersey on or after the day of transfer.
• An estate established under the laws of New Jersey, as defined in N.J.S.A. 54A:1-2(o).
• A trust established under the laws of New Jersey, as defined in N.J.S.A. 54A:1-2(o).

What is a nonresident taxpayer?

A nonresident taxpayer is any taxpayer that does not meet the definition of a resident taxpayer.

Can non-U.S. citizens use the GIT/REP-3 if it is applicable to them?

Yes. The GIT/REP withholding involves whether an individual is a resident of the State of New Jersey. If one of the boxes on the GIT/REP-3 applies to their situation, such an individual can complete the GIT/REP-3.

I moved out of New Jersey on or after the day of transfer. Am I considered a resident or a nonresident?

When you move out of New Jersey on or after the day of transfer, you are considered a nonresident. Part-year residents are considered nonresidents. Note: Boxes 2 through 16 of the GIT/REP-3 apply to residents and nonresidents.

I am a nonresident individual. Which box should I check on the GIT/REP-1 NJ-1040-ES estimated payment voucher?

The box on the NJ-1040-ES estimated payment voucher is already pre-filled to show that it accompanies a GIT/REP-1 payment.

When a nonresident seller has sent the required payment to the Division of Taxation in error, how can this be corrected in order to record the deed?

When a nonresident seller has sent their GIT/REP-1 form with payment to the Division of Taxation in error, the seller or their authorized representative must complete a GIT/REP-2 form and bring it to one of the Division’s Regional Information Centers. Along with the completed GIT/REP-2 form, the nonresident seller(s)/grantor(s) should provide the following:

• a copy of the deed;
• a copy of the settlement statement or closing disclosure form;
• a completed and signed GIT/REP-1 form;
• a power of attorney or letter of authority; and
• a copy of the cancelled check showing proof of payment of estimated taxes.

Once verified, the Division will stamp the GIT/REP-2 form with the Division's raised seal, so the seller may have the deed recorded with the appropriate county clerk.

A taxpayer moves out of New Jersey on or after the day of transfer. Can s/he qualify for an exemption under I.R.C. Section 121?

Yes, a taxpayer can qualify for an exemption under I.R.C. Section 121 if the real property being sold or transferred was used exclusively as a principal residence within the meaning of section 121 of the Internal Revenue Code of 1986, 26 U.S.C. s. 121. The requirements outlined in the Internal Revenue Service Publication #523 must all be met. However, if the entire gain cannot be excluded from gross income, s/he does not qualify for the exemption.

Does a New Jersey resident include a foreign national who is a resident in this State?

A New Jersey resident includes a foreign national who is a resident in this State, even though they are not a U.S. citizen.

Do Boxes 2 through 16 of the GIT/REP-3 apply to residents and nonresidents?

Boxes 2 through 16 of the GIT/REP-3 apply to both residents and nonresidents. See the GIT/REP-3 and the instructions.

I am a cosigner of the original mortgage on the property being sold, and I am not receiving any proceeds from the sale of the property. What do I do?

Complete GIT/REP-3. In the owner’s share of consideration, enter zero, and check off box 14 (no net proceeds).

I cosigned a mortgage. The actual owners have higher credit scores now so they are refinancing and removing me from the mortgage and the deed. What do I do?

Complete GIT/REP-3. In the owner’s share of consideration, enter zero, and check off box 14 (no net proceeds).

The deed for property transaction is for a property located in two counties that is being recorded in each. Do I need to complete a GIT/REP form for each county?

Yes. Since the deed is being recorded in two counties, you must complete a GIT/REP for each county. See below in the Estimated Gross Income Tax section for guidance on how to pay the withholding in such situations.

Can you provide some examples why the Division would grant a waiver using the GIT/REP-4?

Examples include, but are not limited to:

• a capital loss incurred on the sale of property;
• the party requesting the waiver is a bankruptcy trustee;
• demonstrating undue hardship; (e.g. a county clerk repeatedly rejecting a valid GIT/REP-3);
• an “ancient” deed;
• a court ordered real estate transfer; (e.g. divorces where one of the spouses refused to sign the GIT/REP-3);
• a deed that should have been recorded, but remained unrecorded for a number of months, despite repeated efforts by the title company, the seller can no longer be located.

I have a validly completed GIT/REP-3 that the county keeps rejecting despite the instructions, FAQ, and TB-57(R), what should I do?

If the county repeatedly rejects a validly completed GIT/REP-3, you should contact GIT/REP Unit for further guidance. After you explain the situation and provide copies of the deed and GIT/REP-3, the Division may, as a courtesy, allow the sellers, or their representative, to request a waiver, by submitting a GIT/REP-4, if the situation justifies it.

Be sure to include documentation showing that the county rejected a validly completed GIT/REP-3 solely because of the form itself, and not due to another reason. You must also submit any additional documents you were instructed to submit with the waiver request. The GIT/REP Unit will not grant a waiver solely because the seller did not prefer to fill out the GIT/REP-3.

I have a really complicated transaction involving multiple grantors, some are residents and some are nonresidents. I am concerned the county clerk’s office might not understand or partly reject the GIT/REP forms that were submitted with the deed. What should I do?

Every transaction has various facets, with some more complex than others. For some of the more complex transactions, you may want to contact GIT/REP Unit at least two weeks before closing. If the closing has already occurred and the county clerk’s office is rejecting the recording submission due to confusion about the transaction, you should contact GIT/REP Unit for assistance.

How can I contact the GIT/REP Unit?

For questions about the GIT/REP withholding or to submit a waiver request, contact the GIT/REP Unit by phone at: 609-322-9275;

Email: Taxation.GITREP@treas.nj.gov;

Or write to:

• New Jersey Division of Taxation
  Office of Taxpayer Communications
  PO Box 281
  Trenton, NJ 08695-0281

If using an overnight service with a carrier other than USPS Express, mail to NJ Division of Taxation, Office of Taxpayer Communications, 3 John Fitch Way, 8th Floor, Trenton, NJ 08611.

Who is required to make an Estimated Gross Income Tax Payment?

Nonresident sellers/grantors selling/transferring real property in New Jersey must make an estimated Gross Income Tax payment unless they qualify for one of the seller's assurances listed on the GIT/REP-3 form.

How do nonresident sellers/grantors calculate the estimated Gross Income Tax payment on the sale/transfer of real property in New Jersey?

Under with N.J.S.A. 54A:8-9(a), the gain on the sale or transfer is multiplied by the highest Gross Income Tax rate (10.75% effective 8-1-2004) for the taxable year, as set forth in N.J.S.A. 54A:2-1. However, the estimated tax payment must not be less than 2% of the total consideration for the sale or transfer as stated in the deed of conveyance.

If a nonresident seller/grantor recognizes no gain from the sale or transfer of real property in New Jersey, are they required to make an estimated Gross Income Tax payment?

Yes. Even if the seller/grantor do not recognize a gain, they are still required to pay at least 2% of the total consideration stated in the deed on or before the time of closing.

If the sellers’ percentage of ownership is not 50/50, what should be reported on the GIT/REP form?

The GIT/REP form must accurately reflect each seller’s actual percentage of ownership. For example, if one seller owns 50% of the property and two others own 25% each, each seller’s GIT/REP forms must reflect their respective ownership interest. Note: If two of the sellers are married, they may complete and sign one joint GIT/REP form showing their combined ownership interest.

When there are multiple owners selling real property in New Jersey as tenants in common and one is a nonresident, how is the estimated Gross Income Tax calculated?

The nonresident seller/grantor estimates their Gross Income Tax due by multiplying their ownership percentage by the gain recognized for federal income tax purposes, by the highest Gross Income Tax rate of tax (10.75%) for the tax year under in N.J.S.A. 54A:2-1. But the estimated payment cannot be less than 2% of the nonresident's percentage of the total consideration for the sale or transfer stated as stated in the deed.

Where do I send the estimated Gross Income Tax payment at the time of closing?

The estimated Gross Income Tax payment must be submitted along with the GIT/REP-1 form and the deed to the appropriate county clerk. The county clerk will then forward the form along with payment to the Division of Taxation. To ensure proper credit, the 1040-ES (Estimated Gross Income Tax Payment Voucher) on the GIT/REP-1 form and the seller's/grantor's payment must indicate the seller's/grantor's Social Security Number. If you already mistakenly sent the prepayment directly to the State instead through the county clerk, see Estimated Payment Sent In Error in TB-57(R).

I am a non-U.S. citizen without a Social Security number or Federal Tax Identification number. What should I use on the GIT/REP-1?

When completing the GIT/REP-1, the seller must complete a W-7 TIN application form and attach it to the GIT/REP-1, regardless of whether they have submitted the W-7 to the IRS. The county clerk will forward the nonresident withholding tax, the bottom part of the GIT/REP-1, and the W-7 to the State. However, prepaying the withholding at a Division of Taxation Regional Office to obtain an approved GIT/REP-2 prior to closing may reduce potential recording delays.

New Jersey real estate is sold for a total consideration of $350,000. A nonresident seller receives only $50,000 in cash at the closing. The balance of $300,000 is to be paid by the buyer to the seller in annual installments of $60,000 plus interest over the course of five years pursuant to the terms of a mortgage/installment contract. The conveyance of the deed takes place at the closing. How much of the required estimated tax payment is due on the sale of property in New Jersey, and when is it due?

The nonresident seller must pay the minimum 2% of the total consideration as recited in the deed at the time of closing. But they may then seek a refund based on the actual consideration received for the tax year or choose to credit/forward the overpaid balance to subsequent tax years. Thereafter, the seller will pay Gross Income Tax on the installment payments (plus interest) received from the buyer during the taxable year when the seller files their nonresident New Jersey Gross Income Tax returns.

A nonresident seller and a buyer enter into an installment sales contract whereby the buyer agrees, upon signing the contract, to make an initial payment of $50,000 to the seller. The balance of $300,000 is to be paid in installments of $60,000 each over the course of five years. The conveyance of the deed is not to take place until all payments have been made. How much of the required estimated tax payment is due on the sale of property in New Jersey, and when is it due?

Subsequent to the commencement of the installment sales contract, the nonresident seller must pay Gross Income Tax on all payments received from the buyer during the taxable year when the seller files their nonresident Gross Income Tax return. When the final installment payment is made by the buyer and the deed is conveyed, the seller must go to a Division field office to make the minimum 2% estimated tax payment on the final payment received from the buyer. Secondly, the Division of Taxation will verify all tax payments made by the seller on the total amounts received from the buyer and all related nonresident tax returns. The seller will complete a GIT/REP-2 form which will then be stamped with the Division's raised seal and act as a receipt for the seller to be forwarded to the appropriate county clerk with the deed for recording (see Technical Bulletin No. 57(R), GIT/REP-2: Nonresident Seller's Tax Prepayment Receipt.

The deed for the property transaction is for a property located in two counties that is being recorded in each county. How should I pay the nonresident withholding?

The seller has two options because you need a GIT/REP form for each county in order to record in that county. The first option is to prepay the withholding at a Division of Taxation Regional Office in order to obtain approved GIT/REP-2 forms prior to closing. The second option is to pay the withholding to one of the counties and then request a waiver using the GIT/REP-4 from the Division for the other county.

I have a 1031 exchange that I thought was fully exempt but I found after recording the deed that only part of the transaction was exempt. What do I do?

You may make an estimated payment using Form NJ-1040-ES to New Jersey after recording.

Can the amount of consideration received by one seller be more than their percentage of ownership?

Yes. However this would be as a result of a contractual agreement. Such agreement should be presented to the county clerk at the time of recording to prevent recording delays.

If I contractually receive more of the consideration than my ownership interest, what amount should I use?

To calculate the GIT/REP withholding, you should use the contractually agreed–upon amount you received. Documentation outlining the allocation of the consideration should be presented to the county clerk when then submitting the deed for recording.

When an estate is selling/transferring real property in New Jersey, who is required to complete and sign a GIT/REP form to record the deed?

The estate is responsible for completing the form according to its residency status. The appropriate form must be completed with the seller's/grantor's information being that of the estate. If the decedent left a will, then the executors/beneficiaries or their authorized representative(s) who is/are required to sign the deed also must sign the completed GIT/REP form. If there is no will, the estate’s administrator must sign the form.

If a beneficiary receives an interest in real property through a will and later sells it to a third party outside the provisions of the will, who is responsible for completing the GIT/REP form and which form is required?

The beneficiary(ies) who received the interest and is/are now selling/transferring it is/are responsible for completing the appropriate form based on their/their residency status. Depending on the transfer, GIT/REP-1, GIT/REP-2, GIT/REP-3, or GIT/REP-4 may be appropriate.

When there is more than one executor for an estate, can just one GIT/REP form be signed and submitted?

Yes. All the executors can sign and submit one form. An attachment for additional signatures is acceptable.

When a trust is selling/transferring real property in New Jersey, who is required to complete and sign a GIT/REP form?

The trust is responsible for completing the form based on its residency status. The appropriate form must be completed with the seller's/grantor's information being that of the trust. The trustee(s) or their/their authorized representative(s) who are required to sign the deed are responsible for signing the completed form.

When there is more than one trustee for a trust, can just one GIT/REP form be signed and submitted?

Yes. All trustees can sign and submit one form. An attachment for additional signatures is acceptable.

Do trustees, executors, or administrators that happen to be beneficiaries have to sign two (one on behalf of the estate or trust and one in their individual capacity as a beneficiary) GIT/REPs?

Trustees, executors, or administrators that are also beneficiaries have to sign two GIT/REP forms; one on behalf of the estate or trust and one in their individual capacity as a beneficiary.

Do sellers that aren't married, trustees, executors, administrators, and beneficiaries each have to fill out a GIT/REP?

Sellers that aren't married, trustees, executors, administrators, and beneficiaries each have to fill out a GIT/REP.

Does a Business Trust pay the 2% nonresident withholding and do they have to fill out the GIT/REP-3?

A business trust is not a Gross Income Tax trust. The business trust is not subject to the Gross Income Tax, so the 2% withholding does not apply. The business trust should either fill out the GIT/REP-3 with box 5 checked off or request a GIT/REP-4 waiver.

Do Corporations, Partnerships, and LLC's have to complete and sign a GIT/REP form in order to record the deed?

Yes.

What form does a resident/nonresident corporation, partnership, or multi-member LLC have to complete and sign in order to record the deed?

A resident/nonresident corporation, partnership, or multi-member LLC is required to complete and sign the GIT/REP-3 form (Seller's Residency Certification/Exemption). Check box #5 under Seller’s Assurances (Seller is not an individual, estate, or trust...).

What form do single-member LLCs have to complete and sign in order to record the deed?

An LLC can fill out GIT/REP-3 and check off Box 5.

Does a corporation have to pay the 2% nonresident withholding and do they have to fill out the GIT/REP-3?

A corporation does not pay the 2% nonresident withholding, but they must fill out the GIT/REP-3 and check off Box 5.

Is a combined group that files Form CBT-100U required to pay the nonresident withholding?

A combined group for New Jersey purposes is a group of corporations under common ownership that files Form CBT-100U for their Corporation Business Tax obligation. A corporation that is the member of a combined group does not pay the 2% nonresident withholding, but they must fill out the GIT/REP-3 and check off Box 5.

If a nonresident grantor is conveying property by quitclaim deed to their brother/sister/ex-spouse/etc., for $1,000 or less, do they need to get a GIT/REP-4 form with the raised seal from the Division of Taxation?

No. The nonresident grantor would complete a GIT/REP-3 form and check off Box 6 under Seller’s Assurances (The total consideration for the property is $1,000 or less...). Note: The definition of “consideration,” includes open mortgages, and is set forth in the GIT/REP-3 instructions and in the next FAQ section.

I am a nonresident seller/grantor from a foreign country and do not have a Social Security number. I have applied for one but have not yet received it and the county clerk will not accept my GIT/REP-1 form without it. How will the deed be accepted for recording?

The seller/grantor must attach a copy of a completed W-7 TIN application form (form obtained from the IRS) to the GIT/REP-1 form to be submitted with the deed for recording with the appropriate county clerk.

If a seller(s)/grantor(s) refuses to sign the appropriate GIT/REP form and has not given power of attorney or written authorization to anyone else, can their attorney sign the form or can a GIT/REP-4 waiver be used?

No. All GIT/REP forms must be personally certified by the seller/grantor or an authorized representative (e.g., power of attorney or letter of authority). It is the responsibility of the buyers/grantees (or that of their/their authorized representative) to ensure a GIT/REP form is completed at the time of closing. The county clerk will not accept a deed unless it is accompanied by a properly completed and signed GIT/REP-1, -2 or -3 form. In general, failure to comply does not justify seeking a GIT/REP-4 waiver. However, in cases where obtaining the seller's/grantor's signature is impossible, the Division will consider a request for a waiver.

If real property is sold to a county or municipality, is/are the seller exempt from payment under the Seller's Assurance at Box 4 on the GIT/REP-3 form?

No. The seller(s)/grantor(s) must fill out the appropriate GIT/REP form based on their residency status. A county or municipality is not considered an agency or authority of the United States of America, an agency or authority of the State of New Jersey, the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Government National Mortgage Association, or a private mortgage insurance company.

Is transfer of real property from parent(s) to child(ren) exempt under one of the seller assurances on the GIT/REP-3 form?

No. There are no special exemptions for parent-to-child transactions. Such transactions are treated in the same way as any other transaction between individual parties. As such, consider the seller’s state of residency (Box 1), whether the property is a principle residence per U.S.C. Section 121 (Box 2), the consideration amount (Box 6), and/or whether there is a net amount due to the seller on the settlement sheet. (Box 14).

What is "Consideration"?

"Consideration" means in the case of any deed, the total compensation paid or to be paid for the transfer of title to the lands, tenements, or other realty. It includes the remaining amount of any prior mortgage obligation that must be satisfied for the transfer to proceed or which the grantee agrees to pay, and any other lien or encumbrance not paid, satisfied, or removed as part of the transfer of title.

Does the consideration listed on the GIT/REP-1, GIT/REP-2, or GIT/REP-3, include the dollar amount on the deed and the value of the mortgage?

Yes. The consideration listed on GIT/REP-1, GIT/REP-2, or GIT/REP-3, should include the dollar amount on the deed and the value of the mortgage.

What should a co-signer on a mortgage receiving zero proceeds put as consideration on the GIT/REP-3?

A co-signer on a mortgage receiving zero proceeds should enter zero consideration and check box 14 under the Seller’s Assurances on the GIT/REP-3.

Can the withholding be more than 2% of the consideration?

Yes. Withholding is based on the highest Gross Income Tax rate multiplied by the seller’s gain, but cannot be less than 2% of the consideration but it can be more than 2% of the consideration. That is, 2% is the minimum withholding and it does not represent a cap or ceiling. Taxpayers will apply the formula set forth above in the Estimated Gross Income Tax section under How do nonresident sellers/grantors calculate the estimated… question. If the result from the formula is less than 2% of consideration, they must use 2% of the consideration.

What is required to request a waiver?

To request a waiver, you need the original deed, the settlement sheet, the proposed deed, the GIT/REP-4 with the top and middle filled out, and a cover letter explaining why you are requesting the waiver.

Can I request a waiver if the transaction involves an ancient deed and the seller is nowhere to be found?

Yes. If the transaction involves an ancient deed and the seller is nowhere to be found, you can request a waiver.

If the settlement sheet says the seller is getting zero proceeds or owes money at closing, can the seller use box 14 under Seller’s Assurances on the GIT/REP-3?

Yes. If the settlement sheet says the seller is getting zero proceeds or has to pay money at closing, the seller can check box 14 on the GIT/REP-3.

What if the payment check hasn't been processed by DORES after so many months subsequent to the county mailing the payment and recording the deed?

The title company has to cancel that check and resubmit the payment along with a copy of the originally filed GIT/REP-1 to the Revenue Processing Center in the PO Box listed in the GIT/REP-1 instructions.

What if there is a payment made in error?

For payments made in error, follow the procedure in GIT/REP-57(R) for that situation.

Where should refund requests be sent?

Refund requests (and the required documentation) must be sent to the address provided on the refund claim form (Form A-3128), which is:

• Division of Taxation
  Taxpayer Accounting Branch
  P.O. Box 046
  Trenton, N.J. 08646-0046

Can a nonresident seller/grantor obtain a refund before the close of a tax year and in advance of filing a New Jersey nonresident Gross Income Tax return?

Yes. The nonresident seller/grantor can complete an A-3128 refund form and submit it to the Division's Taxpayer Accounting Branch as specified on the form.

I never filed the A-3128 to claim a refund for the nonresident withholding for a real estate transaction that occurred last year. Now its tax time – what should I do?

While A-3128 is appropriate before the close of a tax year or before due date of the tax return, you can request a refund if you are owed one when you file a NJ-1040NR nonresident New Jersey tax return for a tax year. If you forgot to claim a refund on your New Jersey return and were owed one, assuming the tax year in question is still within the refund statute of limitations for Gross Income Tax purposes, you should file an amended New Jersey return and request a refund.

Do the Realty Transfer Fee (RTF) exemptions apply to the 2% nonresident withholding?

No. The RTF exemptions do not apply to the 2% nonresident withholding tax. The RTF is separate from the Gross Income Tax.

Does the consideration listed on the GIT/REP-1, GIT/REP-2, or GIT/REP-3, always match the consideration on the RTF-1?

Generally, yes the considerations must match. However, there are situations like partially exempt 1031 exchanges, the GIT/REP consideration may not match the consideration amount on the RTF-1 on its face. However, the sum of the nontaxable and taxable amount of consideration on the GIT/REP forms submitted to the county will match the consideration on the RTF-1