Rising floodwaters across Victoria's north of Australia are threatening hundreds of homes after the state's worst floods in 15 years, local media reported on Monday.

Some 250 homes were evacuated over the weekend and many towns in Victoria's north-east and west are still on high alert.

The State Emergency Service (SES) state commander Stephen Warren said there is widespread flooding across the entire state, and the Army has been called in to assist with flood assessments on Monday.

"They've got 50 troops on the ground and they will be helping some of the assessments of the damage," Warren told ABC News.

"The Army will be there with their trucks and personnel to help people relocated."

The Mayor of Wangaratta, in Victoria's north, where floodwaters are expected to peak on Tuesday, said the floods are the worst in more than a decade.

"This flood will be as big or bigger than the floods we had in 1998," Councillor Anthony Griffiths told ABC News, adding that about 60 houses in Wangaratta were evacuated overnight.

"[But we are] not expecting it to get as big as the 1993 floods, which were some of the biggest on record.

"There are a few variables. The amount of snow melt, and extra rain obviously too, could make things a bit more interesting."

Meanwhile, the Victorian Government has announced relief funds for people affected by the floods.

People who cannot go home and need basic financial help will be eligible for grants of about 1,000 dollars (917 U.S. dollars).

Larger grants of about 26,000 dollars (23,840 U.S. dollars) will be available for those whose homes have been structurally damaged.