He told the Hull Daily Mail: "I'd love to sign Michel because he's a very good goalkeeper and a player I know really well.
"However, I've only got so much money to spend. We did reach an agreement with Alan Fettis regarding some of the remainder of his contract and that's left us with only a certain amount of money for a new signing.
"We do need a new goalie but I've promised the chairman I will stick to the budget he's given me.
"I haven't spoken to Michel, or to Brighton, but knowing him as I do, I would think he'd be priced out of our range."
Taylor also confirmed that whoever he signs will be playing second fiddle to his number 1 Boaz Myhill, and suggested that Kuipers would not be interested in such a role.
Whoever Taylor does manage to persuade to join the Tigers is expected to be here by this time next week.