The former Emmerdale actress, who bowed out from her role as Jo Sugden in 2008, was a victim of flooding in the region four years ago and also suffered a house fire when she was a teen.
Pallett told the Sunday Sun: "We saw so much heartache then, and we were right in the middle of it, and now to see it all happen again is so heartbreaking.
''My heart goes out to all the families who have lost their homes and been affected because of the floods in my home neck of the woods, Cumbria."
Pallett said that Newcastle's Theatre Royal is offering free tickets to a special performance of Cinderella to families hit by the tragedy in the hope that it brings some "light relief".
The 26-year-old added that memories of losing all her possessions in a house fire returned when she watched news footage of the extreme weather.
"I just hope we can put a smile back on some of their faces," she said.