Convert folder hierarchy to Finder tags

Is there any way Hazel can scan a folder hierarchy, something that looks like `Finance/Bills/Water`, and convert the names of the folders to Finder tags, and then tag the files inside with those tags?
I'd like to convert my filing system to add all files of the same type to a folder, and use Finder tags and filenames to sort them when needed.So, it'd go from `Finance/Bills/Water/2021-02-05_water bill.pdf` to `Finance/PDF/2021-02-05_water bill.pdf` with the Finder tags of "Finance", "Bills", and "Water". Make sense?
I'd like to convert my filing system to add all files of the same type to a folder, and use Finder tags and filenames to sort them when needed.So, it'd go from `Finance/Bills/Water/2021-02-05_water bill.pdf` to `Finance/PDF/2021-02-05_water bill.pdf` with the Finder tags of "Finance", "Bills", and "Water". Make sense?