The charges came during a June 1, 2005, incident in which Taylor allegedly pulled a gun on two men he thought had stolen his two all-terrain vehicles from a neighbor's driveway.
The Washington Post reported that Taylor's Yukon Denali was sprayed with gunfire after he retreated. Thursday's plea will allow Taylor to avoid a potential prison term.
The newspaper said Taylor will spend the next 18 months visiting 10 schools in the Miami area to speak to students about the importance of maintaining self-control and furthering their education. He agreed to donate a $1,000 educational scholarship to one student at each school and pay $429 in court costs.
"This will help me reach some kids and show them this is not the way to be," Taylor said. "It is in my best interest."
Celebrity Families of 2014 [PHOTOS]