Taylor, who is currently sidelined with an ankle injury, has made 285 appearances for his hometown club since his debut against Nottingham Forest.
The 25-year-old midfielder's contract expires at the end of this season and he rejected an extension earlier this month due to his wish to operate at a higher level than League One.
"Chris feels that he wants to go and try and play at a higher level," said Dickov. "I've not ruled out completely the idea of him being here next year. We would like that to happen, but it's in Chris' hands.
"After the service he's given the club I don't think anyone could begrudge him wanting to go up to a higher division.
"I'm pretty sure, speaking to Chris, that if he has got to stay in League One it will be with us."