Taal Volcano‘s Main Crater Lake, which is obviously inside the Main Crater, is 1.9 kilometers in diameter. The Main Crater is inside the Taal Caldera. Inside the Taal Caldera, surrounding the Main Crater, is the Taal Lake (267 square kilometers). This is why it’s also referred to as the lake within a lake. Lakeshore towns, or those which border on Taal Lake, include Talisay, Tanauan, Agoncillo, Balete, San Nicolas and Laurel. Rate/review Taal Volcano and Taal Lake.