Northampton Borough Council failed to allocate £130,000 of Government money aimed at helping businesses who suffered financially after the April 2017 revaluation of business rates.
A total of £189,870 was made available to the authority to distribute to businesses, but as of April 31 this year £60,426 was handed out, meaning there was still £129,574 left to give out.
The figures were obtained via a Freedom of Information request by chartered surveyors Bankier Sloan, in conjunction with betterretailing.com and Retail Express.
The surveyors found that many councils incorrectly used Government guidelines for giving out the funds, with many limiting the relief they gave out to business with a rateable value under £200,000 - who had seen rates payable increase by 12.5 per cent.
Councils have until September 30 to rewrite their guidelines and claim the money from Government.
In the 2016-17 tax year Northampton borough brought in £100,471,422 net in business rates, a similar figure to Southampton, Peterborough and Cambridge.
The total amount collected in England was £23.87bn.
In Northampton, just under £5m is still owed by ratepayers to the council.