Will there be a re-assesment of property tax if the deed is transfered
from a living trust to a LLC. (Property in California)

No.  There is a check mark on the form that accompanies your request
for the transfer with the County Assessor's Office when you make the
new Grantor/Grantee transfer and recordation.  No problem at all. 
Very common especially if the holder of the LLC are the same as the
Trustees of the living or family trust.  Good luck.  Everything can be
done at once by visiting your local County Assessor's Office

I think freeattorney-ga is presuming that this transfer is from one
estate planning vehicle to another. The nature and ownership of the
LLC may affect the answer.