Purpose: The purpose of this study was to examine the actual and perceived effect of taping on dynamic stability. Methods: 21 physically active subjects [12 females (age = 20.33 ± 1.44 years, height = 165 ± 0.05 cm, mass = 68.76 ± 12.69 kg), and 9 males (age = 21.33 ± 1.66 years, height = 180 ± 0.10 cm, mass = 86.54 ± 9.46 kg)] participated in this study. Dynamic stability and perception of stability were assessed barefoot and with the ankle taped. The taped ankle condition used a standard preventive tape application including two anchors, three stirrups, close downs, horseshoes, two heel locks per side and two figures of eight. The Biodex Balance System SD was used to measure medial-lateral and anterior-posterior stability. Dynamic balance was assessed in a single leg stance during three 20-second trials at stability level 4. A 30-second rest period was provided between trials. Perception of stability was assessed using a 4-point Likert scale (1 = very unstable, 2 = unstable, 3 = stable, 4 = very stable) after each test session. Independent variables were counter-balanced to minimize the effects of fatigue associated with the testing procedures. A Repeated measures ANOVA was used to analyze the difference between barefoot and ankle tape for medial-lateral and anterior-posterior dynamic stability indices and perception of stability. All tests of significance were carried out at an alpha level = 0.05. The Bonferroni post hoc test was used for all paired comparisons. Results: Significant differences were not found for medial-lateral stability (Barefoot = 1.24 ± 0.63, Taped = 1.21 ± 0.72) nor anterior-posterior stability (Barefoot = 1.70 ± 1.07, Taped = 1.50 ± 0.89). Significant differences were found for perception of stability (Barefoot = 2.57 ± 0.60, Taped = 3.32 ± 0.67, p = 0.000). Conclusions: The use of ankle taping had no influence on dynamic stability measures in this study. Ankle taping did cause an increased perception of stability suggesting that ankle taping may have more of a placebo effect in uninjured ankles.