A tape dispenser has first and second half-shells, with a dispensing end and a cutter end, and a first cutter member formed in and integral with the first half-shell, and having a plurality of upwardly directed serrations which define serrated cutting teeth at the top ends. First and second cutter retainer walls are provided; and a removable second cutter member is adapted to overlie the serrated cutting teeth of the first cutter member, and having a plurality of serrated cutting teeth of the same size and depth as those of said first cutter member.