Minor flooding is occurring along the river at time of writing, and NSW State Emergency Services are warning that moderate flooding could break out later this evening.

They currently expect the water levels to peak at moderate levels of 2.6 metres around 6pm today, pending further changes in rainfall patterns.

Weatherzone meterologist Graeme Brittain said he expected to see a further 10 to 20 millimetres to fall over the Tumut River catchment over the next 12 or so hours.

"It's not as heavy as what's fallen so far, but on top of what's already fallen in the catchment and surrounding areas it's fairly significant," Mr Brittain said.

"That's going to be caused by a low trough moving into Western Victoria as we speak, so that'll cause more rain over the next 12 to 24 hours. "

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SES are urging residents near Dowells Lane in Bombowlee as well as Lacmalac and Goobragandra Road to prepare their houses for flooding.

They are also cautioning drivers to steer clear of the lower parts of Elm Drive and River Street, and for livestock owners to keep an eye out for their herds at the Tumut Racecourse.

Earlier the day SES had issued a minor flood warning, which has since been revised to a moderate flood warning in light of changing conditions.

At time of writing the Bureau of Meterology are predicting a 50 per cent chance of further rain for Tumut later this afternoon with the chance of a thunderstorm.

Meterologists are predicting a very high chance of rain for the south west slopes on Friday, with the brunt of it due to fall in the late morning.

Affected residents who need emergency help during flooding can call SES on 132 500, or triple zero in a life-threatening scenario.

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