A correction tape dispenser includes a body having a plurality of body teeth disposed on an inner surface thereof, an applicator tip mounted in the body, and a supply and take-up assembly mounted in the body, the supply and take-up assembly being biased away from the body teeth with a biasing element. The supply and take-up assembly includes a supply reel and a take-up reel. The supply reel and the take-up reel have a common axis of rotation. One of the supply reel and the take-up reel include a plurality of teeth that engage the plurality of body teeth during correction tape re-tensioning when the biasing force from the biasing element is overcome.