There's a formula. It's especially useful when ordering a new front sight, but you could also use it to do what you did, adjust the rear sight. It works for drifting a sight for windage, too.
inches you want to move POI x sight radius / inches to target
So, let's say you are 12" high at 30yds and the measurement from the rear sight to the front sight is 27"
12x27/1080=0.30"
You would have to add .3" to the front sight to bring it down 12"
Or lower the rear sight by .3".
That said, maybe the rifle sights are regulated for 100yds. Or maybe you need to adjust the powder charge. Or like already mentioned, maybe you should bury the front blade in the rear sight's notch. Although it's nice to use the same sight picture, so that would be a last resort for me. I only do that for guns with a brass bead front sight and not a blade.