The 34-year-old joined the club last month along with Ross Wallace, having penned a deal until January along with James Wallace.
However, Town boss Joey Barton has now ensured the trio will remain at his League One side.
Taylor is now aiming to help Town bounce back from Saturday’s loss at Portsmouth when they travel to Peterborough United this evening.
He said: “Everyone at the club has been great; I’m an experienced pro and for me it is all about enjoying football.
“Saturday was not a good day but, over the last few weeks, it has been good and let’s hope we can get back on track.”
An Oli Hawkins header was the difference in that game at Fratton Park with young Nathan Sheron sent off for two bookable offences.
Taylor saw the second challenge on Ronan Curtis in the 84th minute and did not believe the 20-year-old should have been sent off by Lee Swabey.
He said: “You can say what you want to Shez because he will know anyway it was not a red card.
“I watched him knock the ball out for a throw-in, the lad fell over him as he knocked it out.
“They will get things wrong in games but big decisions like that, you can’t get them wrong.”
It was only Town’s second away defeat of the term and Taylor expects a response from his team-mates.
He said: “Peterborough are a good side and doing well but I don’t see why we cannot go there, do well and put in a good performance because, away from home, we have been good.
“It is strange but both teams will be looking to bounce back and, hopefully, we are on the right end of a result.
“We know what we have got in that dressing room, players willing to put their bodies on the line and chomping at the bit to get on.
“We don’t panic; we have been in this position before and we have had a good response when we lost to Southend and Barnsley.
“One defeat does not change a lot but what it does is it makes you prepare well and get ready for the next game.
“What better way than to go to Peterborough and get a result?”