Taylor joined the Vale in late August following a successful trial spell with the club, and Askey is already looking to extend his spell at Vale Park.
Since arriving from Nottingham Forest in the transfer window, Taylor has made eight appearances for the Valiants and has since cemented his place in the first team after some impressive performances.
The 21-year-old brings a lot of energy into the Vale midfield, and the gaffer admits that he's got the ability to do things that not everyone in the squad can.
Having only been at the club little over five weeks, Askey has emphasised that Taylor has already done enough to warrant another six months at Vale Park.
Askey highlighted an issue with the midfielder's imposing start at Vale however, and that is the potential interest of bigger clubs who may look at Taylor themselves.
He said: "He's done really well I think everyone can see that and hopefully he'll keep progressing, he does things where he drops his shoulder and lets the ball roll past him, he gets into areas which a lot of the players can't do.
"He's starting to get his shots away now and he looks capable of scoring goals, but not only does he do that, he works hard and wins the ball back for the team as well.
"We're looking at it now really, he's done enough where you'd want to keep him for another six months. The problem you've got is that if someone is doing well then you've got clubs from higher leagues that might want to take him."
Despite an impressive start to the campaign, Askey is adamant that there is nothing to be complacent about as the Vale sit just three points adrift the play-off spots.
Askey has also suggested that there is room for improvement amongst the squad and that they must not stand-still.
A first away league win is still proving to be elusive for Askey and his men, yet the boss admits that there has not been much wrong with the performances away from home.
He said: "We're doing okay and as I just said we need to improve, our home form has obviously been key to doing okay.
"One thing we won't get is complacent because there's nothing to get complacent about at the moment, we've just got to keep working hard, keep our home form going and just improve on our away form.
"Away from home, apart form the Grimsby game we've done quite well. The Leyton Orient game and the Salford game are games we should have seen out, and that would have changed our away form, so there's not a lot wrong."