Blues exit the Johnstone's Paint Trophy
The striker’s neat finish cancelled out David Moyo’s opener and ensured the sides went in level following a breathless first half.
Goalkeeper Paul Jones, defenders Alex Wynter and Joe Devera, and midfielder Jed Wallace were the only survivors from Bootham Crescent.
Taylor and Nigel Atangana made their first starts since returning from injury, while academy graduates Nick Awford and Ben Close also featured.
Andy Awford made seven changes from the side that drew at York on Saturday.
But the Blues struggled for fluency after the interval and Kaid Mohamed ensured it was the Cobblers who would progress to the area quarter-finals.
Pompey 1 Northampton 1 Half Time:
It was the visitors who almost took the lead just before the break, however, and Lawson D’Ath should have found the target after Ertl’s clearance fell kindly at his feet.
The Cobblers keeper did well to prevent Taylor from netting again soon after, keeping out the striker’s shot at point-blank range.
But the hosts did level with a fine goal on 36 minutes as TAYLOR brought down Wynter’s perfectly-placed cross and slid the ball past Jordan Archer.
Pompey looked to hit back immediately and Wallace had an angled effort saved before Ricky Holmes’ mis-cued effort flew over.
But he could do nothing to prevent Moyo from opening the scoring on 28 minutes, with a neat curling finish that went in off the inside of the post.
The action quickly switched to the Blues’ half and Jones had to be at his best after Richards had met Joel Byrom’s corner.
It was end-to-end stuff as the first half progressed and another Wallace centre was just out of reach for the onrushing Holmes.
The keeper then got down well to deny Marc Richards before Pompey broke quickly up field and Wallace teed-up Taylor for a diving header that flew inches wide.
But referee Graham Horwood soon made a decision that benefited the hosts, ruling out Ryan Cresswell’s effort for a foul on Jones.
Fratton Park then witnessed its first use of vanishing spray after Johnny Ertl was penalised for a foul on Moyo.
But the Blues were forced to make a change on eight minutes when Devera fell ill and was replaced by Adam Webster.
Pompey started brightly and Wallace dragged a shot narrowly past the post in the opening seconds.
But it was Northampton who forged ahead on 55 minutes when Mohamed turned home D’Ath’s low cross.
And the Blues continued to threaten going forward with Taylor sending a fierce long-range effort fizzing just wide before Archer claimed Holmes’ shot.
Awford made a change at the break, as Wallace made way for Andy Barcham out wide.
Pompey were then dealt a further blow, as Webster went down clutching his knee and was replaced by Nicky Shorey.
Jones; Wynter, Ertl (c), Devera (Webster 8 (Shorey 60)), Butler; Awford, Close, Atangana; Wallace (Barcham 46), Holmes; Taylor Pompey (4-3-2-1):
That anger soon turned to disappointment as the Blues were unable to find a late equaliser to take the tie to penalties, despite applying plenty of pressure.
And they were further enraged when Holmes was booked for simulation after going down inside the Cobblers box.
The Fratton faithful were baying for a red card on 81 minutes when D’Ath went in late in Holmes, but Horwood only brought out a yellow card, much to the fury of the Pompey coaching staff.
A poor throw from Dan Butler then sent Alex Nicholls away, but Jones came to the full-back’s rescue with a smart stop down to his left.
And they received a let-off on 70 minutes when Cresswell met Byrom’s corner and rattled the crossbar.
The hosts were not looking as dangerous as they had before the break and struggled to retain possession.
Taylor 36 Goals:
Archer; Tozer, Cresswell, Collins (c); D’Ath, O’Toole, Carter, Byrom; Richards (Mohamed 40), Nicholls, Moyo (Toney 78) Northampton (3-4-3):
Poke, Tarbuck Subs not used:
Holmes Booked: 5,853 (162 away fans)Attendance:
Graham Horwood Referee:
Snedker, Langmead, Ravenhill Subs not used:
D’Ath, Byrom Booked:
Moyo 28, Mohamed 55 Goals: