LOD (Level of Detail) means managing objects in different display scales, which could be devided by two parts. However, you may use one of them and that would be enough for most cases.
Show/hide layers ( group of objects of same type) depending on magnitude (display scale).
Algebraic Geomery based method, called Generalization (which is an algorithm to simplify polygons). look at the following picture

The most famous and efficient method to generalize (simplify) a polygon mesh is known as Descartes-Euler polyhedron theorem (Equation 4.5 sorry if I am refering to a book, that was best I can do) and is used by most of the spatial databases for example PostGIS modules in PostgreSQL. It simply removes smaller sides of a polygon and makes a very rounded one.(above picture)
To implement LOD in a game you need to save and manage the scale of your map (scene) during th zoom in/out operations. The scale changes from zero to infinity and you have to divide this into a particular number of ranges for example something like this:
- 1/zero = infinity to 1/50
- 1/50 to 1/100
- 1/100 to 1/1000
- 1/1000 to 1/infinity = 0
Then you need to define which types of your objects (layers) should be visible or invisible in each of the above ranges. For example a small type of object like a hydrant valve should not be visible when the user is in the fourth range because it will be very small at that scale and can not be discriminated so it doesn't matter if you skip drawing it on the screen.
So when a user uses zoom in and zoom out to change the magnification he moves through the above limits from one to the other range, and your game uses these display scales to manage level of details by showing or hiding objects on the scene. This makes a discrete solution that objects suddenly fade during your zoom out operation, however having the display scales and magnification ranges defined carefully, the user woudn't feel anything.
The above group of 4 ranges are just an example and you need to find the best for your own case by trial and error. There is no rule for that.
Sometimes the games use their own LOD methods, Subway Surfer for instant, shows a small, without texture rectangle to show a building at far, and by getting close suddenly it gets texture, gamer feels it. You didnt talk about your projection system which is very important also didn't talk about what kind of game you are creating.
However suppose you are implementing a full 3D game with openGl and you wish to filter some mesh before transfering them to graphic hardware, I am sure this will help you to reduce binding/unbinding operations with buffer objects and vertex arrays (VBO,VAO) while dealing with OpenGl.
Using only a layer managment or just implement Euler's Generalization
In most cases it is not necessary to implement a generalization algorithm, and filtering objects just works and gets you to the efficiency(refresh rate) you need, however it totally depends, case by case. Although it is an easy algorithm that just removes the small sides of a polygon, you need to define a threshold which is the product of magnitude and a constant number, so bigger sides get filtered in a much farther point of view.
Forgeting the layer manamgment and only implementing Eulers generalization algorithm, provides a very neat and continuous method in which you just check each sides and lines against a pre-defined threshold and show them only in case they are big enough to be discriminated on the screen.
P.S : magnification is a float number > 0 which is equal to 1/scale and the scale is usually < 1 since a 1:1 scale means you have real world lengths in your game.