I think lots of people confuse these two things, so I thought I’d lay a few thoughts down on the matter.
There are definite underlying principles that correlate with good design. Balance, harmony, structure, material, attunement to manufacturing process etc. As far as I am concerned these are independent of a person’s taste. Think of the fibonacci spiral found in nature. This is mathematically based and is pleasing to the eye but this doesn’t mean you have a taste for spiral staircases. Conversely just because you might have a taste for carved elephants on your headboard it doesn’t necessarily mean the headboard is a good design, although it might be. Tastes change and are contingent to culture, upbringing and fashion. Good design is timeless.