Cody McDonald scored a late winner two minutes into added time as they secured a 1-0 victory against Kenny Jackett's men that prevented the visitors returning to the top of the League One table.
McDonald capitalised after Wolves had failed to clear a Jake Hessenthaler corner, and fired home from six yards to give Gills the victory.
"The players know what a big task it is to play here against clubs like Wolves," Taylor said.
"They know they have to put in extra work to get anything out of the game. To be fair, we worked extremely hard as a team.
"In the end we had a bit of luck, they had more chances than us, but we got the late goal and we get three points. They deserved it on the strength of the work they put in.
"I was really pleased for Cody (McDonald) because he played very unselfishly for the team. He had to go wide right in the second half and I think he got rewarded with the goal.
"I have got a lot of respect for Kenny and people know how much I know him. His teams are always organised and they certainly were and they got very good players.
"We really had to defend as a team and a unit, otherwise they would just open us up all the time."
- Sports & Recreation
- Kenny Jackett
- Cody McDonald