The 20-year-old has taken the A-League by storm in recent weeks, and with six goals he is the competition's leading scorer.
Taggart even scored an incredible hat-trick against Melbourne Heart last weekend.
He told 1233 ABC Newcastle's Craig Hamilton he's happy to commit to the club for another season.
"We've been talking about it for quite a while now and it''s good we've come to an agreement," Adam says.
While he admits playing overseas is a goal he's set for himself, the A-League's best sharp-shooter wants the timing to be right.
"I don't want to do anything silly and go too early, or to the wrong place," he says.
For now, his focus is firmly on the Jets.
"We've got a big season this year and another big one the year after that, so I think the main thing is being consistent now and able to score goals regularly," Adam says.
The striker says the whole team is improving.
"We've started attacking a lot more and getting a lot more chances," he says.
"For myself, that was a breath of fresh air."
Taggart modestly puts his flurry of goals down to the entire team's performance.
"They've been absolutely fantasstic and been giving me chances regularly throughout the games now," he says.
According to Adam the team is growing in confidence all the time.
"As we've got a few wins and gained momentum, you start to feel sort of unbeatable, I guess, as the games go on and that's the way you want to feel," he says.
This weekend the Newcastle Jets will be out to redeem themselves against Sydney FC after losing to them in the first round.
"They've obviously had a good run of games and so have we, so it's going to be an exciting game," Adam says.
Hear the Newcastle Jets v Sydney FC this Saturday from 7.30pm on 1233 ABC Newcastle, or via streaming from our website. Your Grandstand commentators are Ned Hall, Paul Wade and Shannon Byrne.
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