diff --git a/src/Razor/Microsoft.NET.Sdk.Razor/src/build/netstandard2.0/Microsoft.NET.Sdk.Razor.CodeGeneration.targets b/src/Razor/Microsoft.NET.Sdk.Razor/src/build/netstandard2.0/Microsoft.NET.Sdk.Razor.CodeGeneration.targets
index 72d170a7d2..72599af998 100644
--- a/src/Razor/Microsoft.NET.Sdk.Razor/src/build/netstandard2.0/Microsoft.NET.Sdk.Razor.CodeGeneration.targets
+++ b/src/Razor/Microsoft.NET.Sdk.Razor/src/build/netstandard2.0/Microsoft.NET.Sdk.Razor.CodeGeneration.targets
@@ -70,14 +70,15 @@ Copyright (c) .NET Foundation. All rights reserved.
     </ItemGroup>
   </Target>
 
-  <Target
+   <!-- Force a Compile to happen if we are not doing a components build. This keeps parity with 2.x CodeGeneration targets -->
+   <Target
     Name="_RazorEnsureCompiled"
-    Condition="!Exists('$(_RazorGenerateTargetReferenceAssembly)')"
+    Condition="'$(_RazorComponentDeclarationAssemblyFullPath)' == ''"
     DependsOnTargets="Compile" />
 
   <Target
     Name="ResolveTagHelperRazorGenerateInputs"
-    Inputs="$(MSBuildAllProjects);@(RazorReferencePath);$(_RazorGenerateTargetReferenceAssembly)"
+    Inputs="$(MSBuildAllProjects);@(RazorReferencePath)"
     DependsOnTargets="_RazorEnsureCompiled"
     Outputs="$(_RazorTagHelperInputCache)"
     Condition="'@(RazorGenerateWithTargetPath)' != ''">
@@ -105,7 +106,7 @@ Copyright (c) .NET Foundation. All rights reserved.
       Version="$(RazorLangVersion)"
       Configuration="@(ResolvedRazorConfiguration)"
       Extensions="@(ResolvedRazorExtension)"
-      Assemblies="@(RazorReferencePath);$(_RazorGenerateTargetReferenceAssembly)"
+      Assemblies="@(RazorReferencePath)"
       ProjectRoot="$(MSBuildProjectDirectory)"
       TagHelperManifest="$(_RazorTagHelperOutputCache)">
       <Output
diff --git a/src/Razor/Microsoft.NET.Sdk.Razor/src/build/netstandard2.0/Microsoft.NET.Sdk.Razor.Compilation.targets b/src/Razor/Microsoft.NET.Sdk.Razor/src/build/netstandard2.0/Microsoft.NET.Sdk.Razor.Compilation.targets
index bf20970c29..102315ebc4 100644
--- a/src/Razor/Microsoft.NET.Sdk.Razor/src/build/netstandard2.0/Microsoft.NET.Sdk.Razor.Compilation.targets
+++ b/src/Razor/Microsoft.NET.Sdk.Razor/src/build/netstandard2.0/Microsoft.NET.Sdk.Razor.Compilation.targets
@@ -54,7 +54,6 @@ Copyright (c) .NET Foundation. All rights reserved.
           Inputs="$(MSBuildAllProjects);
                   @(RazorCompile);
                   $(AssemblyOriginatorKeyFile);
-                  $(_RazorCompileTargetReferenceAssembly);
                   @(RazorReferencePath);
                   @(CompiledLicenseFile);
                   @(LinkResource);
@@ -148,7 +147,7 @@ Copyright (c) .NET Foundation. All rights reserved.
          Prefer32Bit="$(Prefer32Bit)"
          PreferredUILang="$(PreferredUILang)"
          ProvideCommandLineArgs="$(ProvideCommandLineArgs)"
-         References="@(RazorReferencePath);$(_RazorCompileTargetReferenceAssembly)"
+         References="@(RazorReferencePath)"
          ReportAnalyzer="$(ReportAnalyzer)"
          Resources="@(_RazorCoreCompileResourceInputs);@(CompiledLicenseFile)"
          ResponseFiles="$(CompilerResponseFile)"
diff --git a/src/Razor/Microsoft.NET.Sdk.Razor/src/build/netstandard2.0/Microsoft.NET.Sdk.Razor.Component.targets b/src/Razor/Microsoft.NET.Sdk.Razor/src/build/netstandard2.0/Microsoft.NET.Sdk.Razor.Component.targets
index af7427334c..15088d3206 100644
--- a/src/Razor/Microsoft.NET.Sdk.Razor/src/build/netstandard2.0/Microsoft.NET.Sdk.Razor.Component.targets
+++ b/src/Razor/Microsoft.NET.Sdk.Razor/src/build/netstandard2.0/Microsoft.NET.Sdk.Razor.Component.targets
@@ -253,7 +253,7 @@ Copyright (c) .NET Foundation. All rights reserved.
 
     <!-- Point to the declaration assembly to perform taghelper discovery -->
     <PropertyGroup>
-      <_RazorGenerateTargetReferenceAssembly>@(_RazorComponentDeclarationAssembly->Metadata('FullPath'))</_RazorGenerateTargetReferenceAssembly>
+      <_RazorComponentDeclarationAssemblyFullPath>@(_RazorComponentDeclarationAssembly->Metadata('FullPath'))</_RazorComponentDeclarationAssemblyFullPath>
     </PropertyGroup>
   </Target>
 
diff --git a/src/Razor/Microsoft.NET.Sdk.Razor/src/build/netstandard2.0/Sdk.Razor.CurrentVersion.targets b/src/Razor/Microsoft.NET.Sdk.Razor/src/build/netstandard2.0/Sdk.Razor.CurrentVersion.targets
index 5aa5c6ffb0..e148904829 100644
--- a/src/Razor/Microsoft.NET.Sdk.Razor/src/build/netstandard2.0/Sdk.Razor.CurrentVersion.targets
+++ b/src/Razor/Microsoft.NET.Sdk.Razor/src/build/netstandard2.0/Sdk.Razor.CurrentVersion.targets
@@ -74,7 +74,8 @@ Copyright (c) .NET Foundation. All rights reserved.
     </PrepareForRazorCompileDependsOn>
 
     <ResolveRazorCompileInputsDependsOn>
-      ResolveRazorEmbeddedResources
+      ResolveRazorEmbeddedResources;
+      _FixupRazorReferencePathForRazorCompile;
     </ResolveRazorCompileInputsDependsOn>
 
     <RazorCompileDependsOn>
@@ -471,22 +472,33 @@ Copyright (c) .NET Foundation. All rights reserved.
   <Target
     Name="ResolveAssemblyReferenceRazorGenerateInputs"
     DependsOnTargets="ResolveReferences">
+
     <ItemGroup>
       <RazorReferencePath Include="@(ReferencePath)"/>
-    </ItemGroup>
 
-    <PropertyGroup>
       <!--
-        Assembly of the project used as input in RazorGenerate. This property is overwritten to point to the definition assembly when components are present.
+      RazorReferencePath must include the closure of assemblies required for tag helper discovery to keep parity with the 2.1 Razor.Design package.
+      Use the component declaration assembly, if available or the IntermediateAssembly if no components are involved in the build.
       -->
-      <_RazorGenerateTargetReferenceAssembly Condition="'$(_RazorGenerateTargetReferenceAssembly)'==''">
-        @(IntermediateAssembly->Metadata('FullPath'))
-      </_RazorGenerateTargetReferenceAssembly>
+      <RazorReferencePath
+        Include="$(_RazorComponentDeclarationAssemblyFullPath)"
+        Condition="'$(_RazorComponentDeclarationAssemblyFullPath)' != ''" />
 
-      <_RazorCompileTargetReferenceAssembly Condition="'$(_RazorCompileTargetReferenceAssembly)'==''">
-        @(IntermediateAssembly->Metadata('FullPath'))
-      </_RazorCompileTargetReferenceAssembly>
-    </PropertyGroup>
+      <RazorReferencePath
+        Include="@(IntermediateAssembly->Metadata('FullPath'))"
+        Condition="'$(_RazorComponentDeclarationAssemblyFullPath)' == ''" />
+    </ItemGroup>
+  </Target>
+
+  <Target Name="_FixupRazorReferencePathForRazorCompile" Condition="'$(_RazorComponentDeclarationAssemblyFullPath)' != ''">
+    <!--
+      ResolveAssemblyReferenceRazorGenerateInputs may have added the component declaration assembly to RazorReferencePath to perform tag helper discovery.
+      However, we want to compile the Razor assembly against the actual output of the project build i.e. the IntermediateAssembly.
+    -->
+    <ItemGroup>
+      <RazorReferencePath Remove="$(_RazorComponentDeclarationAssemblyFullPath)" />
+      <RazorReferencePath Include="@(IntermediateAssembly->Metadata('FullPath'))" />
+    </ItemGroup>
   </Target>
 
   <!--
diff --git a/src/Razor/Microsoft.NET.Sdk.Razor/test/IntegrationTests/BuildIntegrationTest21.cs b/src/Razor/Microsoft.NET.Sdk.Razor/test/IntegrationTests/BuildIntegrationTest21.cs
index 1da9401aba..ee221c6022 100644
--- a/src/Razor/Microsoft.NET.Sdk.Razor/test/IntegrationTests/BuildIntegrationTest21.cs
+++ b/src/Razor/Microsoft.NET.Sdk.Razor/test/IntegrationTests/BuildIntegrationTest21.cs
@@ -1,6 +1,7 @@
 // Copyright (c) .NET Foundation. All rights reserved.
 // Licensed under the Apache License, Version 2.0. See License.txt in the project root for license information.
 
+using System.IO;
 using System.Threading.Tasks;
 using Xunit;
 
@@ -27,6 +28,14 @@ namespace Microsoft.AspNetCore.Razor.Design.IntegrationTests
             Assert.FileExists(result, OutputPath, "SimpleMvc21.pdb");
             Assert.FileExists(result, OutputPath, "SimpleMvc21.Views.dll");
             Assert.FileExists(result, OutputPath, "SimpleMvc21.Views.pdb");
+
+            // Verify RazorTagHelper works
+            Assert.FileExists(result, IntermediateOutputPath, "SimpleMvc21.TagHelpers.input.cache");
+            Assert.FileExists(result, IntermediateOutputPath, "SimpleMvc21.TagHelpers.output.cache");
+            Assert.FileContains(
+                result,
+                Path.Combine(IntermediateOutputPath, "SimpleMvc21.TagHelpers.output.cache"),
+                @"""Name"":""SimpleMvc.SimpleTagHelper""");
         }
     }
 }
diff --git a/src/Razor/Microsoft.NET.Sdk.Razor/test/IntegrationTests/BuildIntegrationTest22.cs b/src/Razor/Microsoft.NET.Sdk.Razor/test/IntegrationTests/BuildIntegrationTest22.cs
index e3e0b890b4..00a4bdc1dc 100644
--- a/src/Razor/Microsoft.NET.Sdk.Razor/test/IntegrationTests/BuildIntegrationTest22.cs
+++ b/src/Razor/Microsoft.NET.Sdk.Razor/test/IntegrationTests/BuildIntegrationTest22.cs
@@ -1,6 +1,7 @@
 // Copyright (c) .NET Foundation. All rights reserved.
 // Licensed under the Apache License, Version 2.0. See License.txt in the project root for license information.
 
+using System.IO;
 using System.Threading.Tasks;
 using Xunit;
 
@@ -27,6 +28,14 @@ namespace Microsoft.AspNetCore.Razor.Design.IntegrationTests
             Assert.FileExists(result, OutputPath, "SimpleMvc22.pdb");
             Assert.FileExists(result, OutputPath, "SimpleMvc22.Views.dll");
             Assert.FileExists(result, OutputPath, "SimpleMvc22.Views.pdb");
+
+            // Verify RazorTagHelper works
+            Assert.FileExists(result, IntermediateOutputPath, "SimpleMvc22.TagHelpers.input.cache");
+            Assert.FileExists(result, IntermediateOutputPath, "SimpleMvc22.TagHelpers.output.cache");
+            Assert.FileContains(
+                result,
+                Path.Combine(IntermediateOutputPath, "SimpleMvc22.TagHelpers.output.cache"),
+                @"""Name"":""SimpleMvc.SimpleTagHelper""");
         }
     }
 }
diff --git a/src/Razor/Microsoft.NET.Sdk.Razor/test/IntegrationTests/BuildServerIntegrationTest.cs b/src/Razor/Microsoft.NET.Sdk.Razor/test/IntegrationTests/BuildServerIntegrationTest.cs
index bb144b162e..63d25a15b5 100644
--- a/src/Razor/Microsoft.NET.Sdk.Razor/test/IntegrationTests/BuildServerIntegrationTest.cs
+++ b/src/Razor/Microsoft.NET.Sdk.Razor/test/IntegrationTests/BuildServerIntegrationTest.cs
@@ -254,6 +254,11 @@ namespace Microsoft.AspNetCore.Razor.Design.IntegrationTests
                 result,
                 tagHelperOutputCacheFile,
                 @"""Name"":""MvcWithComponents.Views.Shared.NavMenu""");
+
+            Assert.FileContains(
+                result,
+                tagHelperOutputCacheFile,
+                @"""Name"":""MvcWithComponents.SimpleTagHelper""");
         }
 
         private class TestProjectDirectory : ProjectDirectory
diff --git a/src/Razor/test/testassets/MvcWithComponents/SimpleTagHelper.cs b/src/Razor/test/testassets/MvcWithComponents/SimpleTagHelper.cs
new file mode 100644
index 0000000000..860954a44e
--- /dev/null
+++ b/src/Razor/test/testassets/MvcWithComponents/SimpleTagHelper.cs
@@ -0,0 +1,8 @@
+using Microsoft.AspNetCore.Razor.TagHelpers;
+
+namespace MvcWithComponents
+{
+    public class SimpleTagHelper : TagHelper
+    {
+    }
+}
diff --git a/src/Razor/test/testassets/SimpleMvc21/SimpleTagHelper.cs b/src/Razor/test/testassets/SimpleMvc21/SimpleTagHelper.cs
new file mode 100644
index 0000000000..7cc52922d9
--- /dev/null
+++ b/src/Razor/test/testassets/SimpleMvc21/SimpleTagHelper.cs
@@ -0,0 +1,8 @@
+using Microsoft.AspNetCore.Razor.TagHelpers;
+
+namespace SimpleMvc
+{
+    public class SimpleTagHelper : TagHelper
+    {
+    }
+}
diff --git a/src/Razor/test/testassets/SimpleMvc22/SimpleTagHelper.cs b/src/Razor/test/testassets/SimpleMvc22/SimpleTagHelper.cs
new file mode 100644
index 0000000000..7cc52922d9
--- /dev/null
+++ b/src/Razor/test/testassets/SimpleMvc22/SimpleTagHelper.cs
@@ -0,0 +1,8 @@
+using Microsoft.AspNetCore.Razor.TagHelpers;
+
+namespace SimpleMvc
+{
+    public class SimpleTagHelper : TagHelper
+    {
+    }
+}