A system and method of evaluating and correcting for the effects of a near-surface anomaly on surface-to-borehole (STB) measurement data in a geological halfspace includes transmitting electromagnetic radiation from an EM source located on a ground surface which is positioned over the near-surface anomaly, measuring EM fields at a plurality of remote EM receivers located on the surface at a far distance from the EM source, obtaining vertical STB measurement data downhole, determining an orientation and moment of a secondary source equivalent dipole associated with the near-surface anomaly excited by the radiation transmitted by the EM source based on measurements of the EM fields at the plurality of remote receivers, determining a correction factor for the secondary source equivalent dipole on the EM field measurements at the plurality of remote receivers, and removing the effects of the near surface anomaly on the vertical STB measurement data using the correction factor.