The Shot Tower (right) was built from locally quarried sandstone and used in the production of shot last century, and is the largest freestone tower (no mortar) in the world. A climb to the top of its 48 m (150 ft) height gives a good view of the Derwent Estuary, and a good photographic opportunity on a clear day.

At the northern boundary of Taroona is the Truganini Reserve , named after a famous Tasmanian Aboriginal. The reserve includes a track which leads up the side of Mount Nelson.

Accommodation in Taroona consists of two 4-star holiday units (RACT rated).