This is the 3656th most frequent Russian word.
считается
"Считается" means "is considered" or "is regarded."
The word 'считается' is used in impersonal form to indicate a general opinion or widely accepted fact.
Москва считается столицей России.
Moscow is considered the capital of Russia.
Here, 'считается' implies that the monument holds symbolic value in the general perception of people.
Этот памятник считается символом города.
This monument is considered a symbol of the city.
In this context, 'считается' denotes the recognition of someone's expertise by others.