We remain two points behind the league leaders after a highly entertaining share of the spoils at the Academy Stadium, with City looking the more likely to snatch victory after Lauren Hemp’s late equaliser.
But Chelsea weathered the storm to take home what could prove to be a crucial point in the title race, with just two matches of the season left to play.
And while Taylor was frustrated that we couldn’t come out on top, he insisted there were plenty of positive lessons to take for the rest of the season and beyond.
"We've shown we're capable of going toe to toe all the way,” Taylor reflected after the enthralling Academy Stadium showdown.
"I'm proud of the football we've played and the entertainment we've brought by scoring goals and playing exciting football. I can only see us improving.
"We just want to finish strongly in the final two games - that's all we can control.”
"I was obviously engrossed from the sidelines but I can imagine it was entertaining for the viewers and the supporters.
"We can see the game going to new levels now and some of the play, excitement and goals were real quality.”
A match of this potential significance can often become a cagey affair, but both sides were quick out of the traps in search of the breakthrough.
Although Chelsea were 2-1 ahead going into the final 15 minutes, Hemp’s equaliser was just rewards for a second half in which City had pressed tirelessly for the advantage.
And our opponents were thankful to their goalkeeper, Ann-Katrin Berger, for a phenomenal reaction save from the winger moments after her leveller, as she tipped a glancing header onto the bar.
Taylor doffed his cap to both the visitors’ defensive solidity and their stopper’s individual performance, but also admits that, on another day, we could have stolen the points.
"It was an entertaining match for the neutral but I felt we edged the opportunities and the final third action,” the City boss conceded.
“Like I said, we gave away a few sloppy things and could've been better but the way we approached the second half, for me, there only looked like one winner.
"I thought the girls left everything out there, played some really good stuff and dominated proceedings.
"It looked like there'd be a late winner and it took a world-class save from their 'keeper to prevent that.
"We just ran out of time in the end. You can understand the disappointment from the girls."