Officers responded to a property in the northern section of the city late Monday after a 26-year-old man said Taylor had pointed a revolver at him after trying to evict him from a first-floor apartment, police told WCAU-TV. The man said Taylor, 52, told him he needed to give him several days to leave the property, rather than just until the morning.
When officers arrived, Taylor allegedly said: "I ain't coming out." SWAT officers were called in and a 90-minute standoff ensued.
Taylor is facing aggravated assault, terroristic threats and weapons charges, according to the news station.
Taylor was a member of the United States Olympic boxing team and won a gold medal in the featherweight division at the 1984 Games in Los Angeles. As a professional, he held titles in the junior welterweight and welterweight divisions.
He is best known for his first 1990 junior welterweight title fight with Mexican legend Julio Cesar Chavez. Taylor was leading on the scorecards going into the 12th and final round and had outboxed Chavez -- was who undefeated -- for most of the fight. With seconds remaining, Chavez knocked Taylor down after a series of exchanges.
Taylor got up, but referee Richard Steele ended the fight with two seconds left. Even with the knockdown, Taylor might have won the bout on points had Steele elected to let the remaining two seconds elapse.
The stoppage is considered one of the most controversial moments in the sport's history and is still debated among fans. Taylor was knocked out by Chavez in their much-anticipated rematch four years later.
He went on to amass a record of 38-8-1.