The 29-year-old Taylor eclipsed the previous mark by four strokes. John Cook was the first to post 271 in 2001, and he was later matched by Chris Riley and Jonathan Kaye in 2002 and Kirk Triplett in 2003.
'Today was a pretty boring, uneventful round of golf, but I'm thrilled,' said Taylor, who claimed $540,000 for the win. 'I never felt like it was mine. You never know what's going to happen. I'm glad it's over. I'm really proud to have won here twice.'
Kaye, who lost to Riley in their 2002 playoff, closed with a 5-under 67 to take second place at 18-under-par 270. Kaye was one of two players this week to post four rounds in the 60s.
Todd Fischer ended alone in third place at minus-17 after a 2-under 70. J.J. Henry fired a 6-under 66 on Sunday to share fourth place at 15-under-par 273. He was joined there by Aaron Baddeley (70) and J.P. Hayes (69).
Taylor, who entered the final round as the leader for the first time in his PGA Tour career, was steady throughout his round. He parred his first five holes to remain at 21 under.
The 29-year-old stumbled to a bogey on the sixth. After a pair of pars, Taylor birdied the par-5 ninth to get back to minus-21.
With no real pressure on him, Taylor cruised home with nine straight pars for his second tour win.
'That 3-iron I hit from the fairway (on No. 9) was the best shot I hit all day,' Taylor said. 'It was right where I aimed it. That was a big two-putt.'
Kaye got as close as anyone did to Taylor on this day. Kaye, a two-time winner on tour, dropped in back-to-back birdies from the third. He birdied the seventh, but made the turn at minus-15 after a bogey on the ninth.
The 35-year-old birdied the 11th and 12th to get to 17 under. Kaye closed within three strokes of Taylor with a birdie at the 14th. However, he could only par the final four holes.
'Eight shots is a lot to make up on this course, on any course when someone is playing as great as Vaughn was,' Kaye said. 'If I can make an eagle on 17 and then birdie 18, he's going to feel some heat. You've got to make those when you're in contention. But my elbow was bothering me and I didn't even know if I was going to play so I'm happy with my performance.'
Baddeley flew up the leaderboard early with three straight birdies from the second. He got to minus-17 and within three of Taylor when he birdied the par-4 sixth.
The young Australian fell off the pace on the back nine though. He birdied the 17th, but posted three bogeys on the back side to slip down the leaderboard.
Tag Ridings, the other player to post four rounds in the 60s, finished alone in seventh place at 14-under-par 274 after a round of 67 on Sunday. Fredrik Jacobson managed just an even-par 72 to end alone in eighth at minus-13.
Stephen Allan, Spike McRoy, Jesper Parnevik and Dean Wilson were one stroke further back at 12-under-par 276.