The priority of the task depends on the keyword you use to tag it. You can see and edit a list of keywords and their priorities by going to Tools->Options->Environment->Task List.
For example, on my installation, I’ve got HACK, TODO and UNDONE as normal priority, and UnresolvedMergeConflict as high priority.
If you want to add a new tag, type it into the “Name” box, choose a priority, and then click “Add”.