The Collaborative International Dictionary of English v.0.48:

Raze \Raze\, v. t. [imp. & p. p. Razed (r[=a]zd); p. pr. & vb.
   n. Razing.] [F. raser. See Rase, v. t.] [Written also
   rase.]
   1. To erase; to efface; to obliterate.
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            Razing the characters of your renown. --Shak.
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   2. To subvert from the foundation; to lay level with the
      ground; to overthrow; to destroy; to demolish.
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            The royal hand that razed unhappy Troy. --Dryden.
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   Syn: To demolish; level; prostrate; overthrow; subvert;
        destroy; ruin. See Demolish.
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WordNet (r) 3.0 (2006):

razing
    n 1: the event of a structure being completely demolished and
         leveled [syn: razing, wrecking]
    2: complete destruction of a building [syn: razing,
       leveling, tearing down, demolishing]