This may be a purely subjective question (if no organization has attempted to standardize this), but my team struggles with this more than you would think.
We use Apache
Here's what we use (and I'd say many others as well):
In some cases we start with logging messages as ERROR, in order to get the notification when something we'd normally not like to happen occurs. Later, if we decide that the source for that error can not be removed, we handle it and change the log level to WARN.
Note that our test and production systems are set up to send an email for FATAL and ERROR. Thus we don't have to check the log files for those manually but only have to check one email inbox.
Hope that helps.
Edit: did you already have a look at the Apache Commons Logging best pratices?