Yes, by adding a custom field to the taxonomy with the type image. Locations by default include this image field, other taxonomies do not.
Tag: images
Is it possible to change the image dimensions for thumbnails?
The plugin currently uses 240×180:
add_image_size('drts_thumbnail', 240, 180, true);
This can be overridden by adding code to the functions.php file of your theme:
add_action('init', function() { add_image_size('drts_thumbnail', 240, 160); });