Was originally the point where the main water lines
from the north of Istanbul were collected and branched off to other parts of the city (hence the name). This use for the area was established by Sultan Mahmud I.

The square takes its name from the stone reservoir
which is located in this area. Additionally, the word "Taksim" can refer to a special improvisational musical form in Turkish classical music that is guided by the
Makam system.

Taksim is a main transportation hub and a popular destination for both tourists and the native population
of Istanbul. İstiklal Caddesi (Independence Avenue)
a long pedestrian shopping street, ends at this square, and a nostalgic tram runs from the square along the avenue, ending near the Tünel (1875) which is the
world's second-oldest subway line after London's
Underground (1863).