No.  The compiled IL is identical.
The only potential side effect is in the case of inheritance, if you're variable definition is a base class, and you instantiate a subclass.  If you do:
 BaseClass item = new DerivedClass();
This will potentially act differently than:
 var item = new DerivedClass();
This is because the second compiles to:
 DerivedClass item = new DerivedClass();
In most cases, it should behave identically (due to the Liskov substitution principle).  However, if DerivedClass uses method hiding it is possible to have a change in behavior.