The 25-year-old, who can also play in midfield, joined up with Vale for a trial after leaving the Bulls in the summer.
He has impressed the boss with his attitude to training and his commitment in the pre-season games that he has taken part in.
The deal was also done in good time for Taylor to be included in the squad that faces Rochdale tomorrow at Vale Park which is a boost for manager Micky Adams.
"Kris has signed a short-term deal for us," Adams told the club's official website.
"He is a naturally left-sided player, which to be honest we haven't got a great deal of.
"He has fitted in nicely and he deserves the deal he has got. We will take a look at each other over the coming weeks and decide where we go from there."