No. Deleting a tag will remove the tag relation with the term, but will not delete it.
To manage your tags, At the left menu click URLS & TERMS -> Term Tags• You'll see a table...
A tag is a group of terms. A term can have multiple tags. A tag can have terms from different...
You can either: • Select the tag from the "Quick View" (eye icon) at the top left, which...
The small squares in this column show the colors of the tags associated with this term.
You can do that in three different areas: Term Tags • Go to the "Term Tags" page (from the...