The 19-year-old, who has joined until January, becomes Grant McCann’s fourth signing as manager following deals for Taylor, Ali Crawford and Mallik Wilks.
Kane said: “I am happy to be here, I have met a few of the lads and they seem like a good group so I’m looking forward to the start of the season.
“It was an important decision for me as it is my first loan spell, I know I will have to work hard to earn my place in the team.
“I am a hard working player, I like to score and assist as much as possible. There is plenty of competition for places which I am excited by.”
Meanwhile, Taylor has set his sights on goals after signing a one-year deal with Rovers.
The experienced forward, 30, has been reunited with manager Grant McCann, whom he worked with at Peterborough.
He said: “It has been great to be around the club during pre-season, and I would like to thank the gaffer for offering me this contract.
“I am looking forward to knuckling down and showing supporters just what I can do over the course of the season.”