Taylor won the Championship for the second time, by four strokes from runner-up Sandy Herd.
Harry Vardon, one of the early starters, led after the first round with an 80 but had an 85 in the afternoon to finish the day on 165.
Herd had the best round of the afternoon with a 77 and led overnight on 159, five strokes clear of Taylor and Andrew Kirkaldy on 164.
Playing in wind and rain, Herd eventually scored 85 to finish on 326.
Playing carefully he scored five at the dangerous 17th and then four at the last to win by four strokes and retain the title.