The difference $\frac12\dim(X)-\dim(T)$ is known as the complexity of the $T$-space (assumed effective), so that's the keyword you want to use. Such results as I've heard of are mainly for complexity one, by Yael Karshon and Sue Tolman:
Complete invariants for Hamiltonian torus actions with two dimensional quotients (2003);
Classification of Hamiltonian torus actions with two dimensional quotients (2011).
The third paper also quotes some results on $S^1$-spaces of dimension 6, i.e. complexity 2.