Might be nice to get the definitive answers to questions on this issue.
Seems to me you keep religious buildings, ports, roads, blacksmiths, brothels, siege buildings, gun powder buildings, and farms.
Not sure what happens going from a city with a level 3 church (abbey) or above to a castle. Presumably you'd downgrade to a level 2 church. (Can you even do this, or is the city too big to convert?) I personally never convert cities to castles.
Not sure about wall upgrades (ballista towers) but would guess you keep them.
I think most of the specialty buildings (plaza del toro, merchant banks, race tracks, etc.) are city-only but haven't played them all enough to be sure.
The question was raised a while back as to whether you automatically get the cash from the buildings that are razed. Not sure if we got the answer to that.
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