Printing taxonomy terms in node.tpl
First verify that the $taxonomy variable is available and populated in your node.tpl.php file. ... 

EDIT:

Your accessing the values in your $item variable like it is an object but your casting to an array. Try accessing as an array:

 &lt;a href="&lt;?php print base_path() . "taxonomy/term/" . $item['tid']; ?&gt; "class='tags'&gt;&lt;?php print $item['name'] ?&gt;,&lt;/a&gt;