You can put a photo in multiple albums. You could create an album for each person, for each place, etc. Not ideal but it gives some of the same features of tagging.
If you use the Dropbox desktop utlity, tagging works flawlessly. I have several thousand images in my Dropbox account. By looking at them through the desktop app I can add tags and search via the tags. By using the website you are severely limited as to photo management. Hope this helps.
I believe Scott was talking about the DB sync utility, so it is just the synced folder on your computer. Both Windows and Mac have file tagging functionality built into Explorer/Finder, so you can use that with the native search capabilities to tag and find photos. But there is no DB "photo viewer" desktop app.
Here's a link explaining tagging in Windows 7: http://www.techrepublic.com/blog/windows-and-office/tag-your-files-for-easier-searches-in-windows-7/
If using Windows, you can add the Dropbox photos folder to the Pictures Library, and use the built-in Windows date and tag browsing functions: http://techinch.com/blog/integrate-dropbox-with-windows-7-libraries
I just used the Windows File Explorer. If you use Windows just go to the photo in File Explorer and you should see the file details on the right. If not, go to the VIEW tab and make sure the Details Pane is selected. Then just go down to where it says TAGS and enter them in. Make sure you click SAVE. If you have several photos that you wish to tag with the same information, you can select multiple photos and do them all at the same time.
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