The water has receded and the rain has stopped falling on the western Newfoundland and Labrador community of Stephenville. But flooded-out residents aren't out of the woods yet.

There is "a lot of property damage here in the town of Stephenville," said Don Bradshaw of NTV News in St. John's.

"Now that the water has receded, you're beginning to see just how much damage was caused -- a lot of basements flooded out, a lot of property damage in terms of freeze down. That type of thing."

More than 140 millimetres of rain fell on the western Newfoundland town, spurring local officials to declare a state of emergency Tuesday. As many as 200 of the town's 8,000 residents had to evacuate their homes.

Stephenville Mayor Cec Stein said they had anticipated only about 75 millimetres of rain, and were prepared for that. But it became clear early on that a pair of rivers running through the town were going to breach their banks.

"I think we ended up getting 140 millimetres of rain and we just couldn't handle it," he told CTV's Canada AM on Wednesday.

He said that aside from the cleanup, the biggest problem is that one of the main water lines ruptured.

"So we're trying to locate that and make the repairs and get water back into our community."

Newfoundland Premier Danny Williams toured flooded areas late Tuesday.

"Prime Minister Paul Martin has extended an offer of federal assistance to the province,'' Williams said after visiting flooded downtown Stephenville and other areas.

"We will continue to work with the federal government to identify areas where assistance may be needed.''

About 200 homes were flooded by water that, in some places, reached up to the kitchen windows. Even though the rain kept falling, the mayor said that the flooding would remain limited to the low-lying areas already under water.

The rapidly rising water engulfed vehicles and washed away roads leading to the three bridges in Stephenville. The spans themselves were undamaged.

The town set up an emergency hospital for 50 or so families who were evacuated from their homes. Those residents have been allowed to go back to their properties.

"I think when these people get back to their properties and see the condition their homes are in, they are going to be grateful they do have the hospital to go to," Bradshaw told NTV News.

Some of the roads into town, including the Trans Canada Highway, were washed out.

With reports of damage extending to the neighbouring communities of Noels Pond, Black Duck Siding and Kippens, police were restricting traffic and asking drivers to stay off the roads.

Municipal elections slated for Stephenville went ahead Tuesday, but the deluge closed polling stations about an hour after they opened.

A spokesperson for the town said the vote will likely be rescheduled for sometime in the next seven days.

Prepared with reports from NTV News