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Rockshox Tora forks.
Was trying to set them up today, recommended pressure for my weight is 160psi but to get 25% sag I had to drop the pressure to 80psi. I know the pressures are guidelines only but I used to run them at 140psi to get that sag.
Bike hasn't been used much recently, could that be a factor?
Dirty or dried out seals, lack of lube/grease leading to stiction perhaps. Try lifting the upper stanchion seals with a thin flat screwdriver and dribbling a wee bit of chain lube into the upper bushes.
Probably dried out as somafunk says so it has all got a bit sticky.
let all the air out, turn the bike over, leave for 30 minutes to let the oil settle and then cycle the forks a few times. leave for a few minutes and repeat a few time. Turn bike back over and allow oil to settle for 10 minutes, make sure any lockout is off, reinflate to "correct" pressure for sag, cycle the forks to get the oil moving and ride around a bit bouncing the forks, off kerbs, etc. Recheck sag. Fixed my old pike454 that had a similar problem (and damper).
Thanks - bit of oil seems to have done the trick, all moving better now and sag doubled at the old pressure so I've pumped them back to the recommended level.