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."