diff --git a/.changeset/swift-fans-stare.md b/.changeset/swift-fans-stare.md
new file mode 100644
index 0000000000..3477372663
--- /dev/null
+++ b/.changeset/swift-fans-stare.md
@@ -0,0 +1,5 @@
+---
+"svelte": patch
+---
+
+chore: improve $state static reference warning heuristics
diff --git a/packages/svelte/src/compiler/phases/2-analyze/index.js b/packages/svelte/src/compiler/phases/2-analyze/index.js
index 0c207f9508..471b432b05 100644
--- a/packages/svelte/src/compiler/phases/2-analyze/index.js
+++ b/packages/svelte/src/compiler/phases/2-analyze/index.js
@@ -21,6 +21,7 @@ import check_graph_for_cycles from './utils/check_graph_for_cycles.js';
 import { regex_starts_with_newline } from '../patterns.js';
 import { create_attribute, is_element_node } from '../nodes.js';
 import { DelegatedEvents } from '../../../constants.js';
+import { should_proxy_or_freeze } from '../3-transform/client/utils.js';
 
 /**
  * @param {import('#compiler').Script | null} script
@@ -918,7 +919,14 @@ const common_visitors = {
 
 			if (
 				node !== binding.node &&
-				(binding.kind === 'state' ||
+				// If we have $state that can be proxied or frozen and isn't re-assigned, then that means
+				// it's likely not using a primitive value and thus this warning isn't that helpful.
+				((binding.kind === 'state' &&
+					(binding.reassigned ||
+						(binding.initial?.type === 'CallExpression' &&
+							binding.initial.arguments.length === 1 &&
+							binding.initial.arguments[0].type !== 'SpreadElement' &&
+							!should_proxy_or_freeze(binding.initial.arguments[0], context.state.scope)))) ||
 					binding.kind === 'frozen_state' ||
 					binding.kind === 'derived') &&
 				context.state.function_depth === binding.scope.function_depth
diff --git a/packages/svelte/tests/validator/samples/static-state-reference/input.svelte b/packages/svelte/tests/validator/samples/static-state-reference/input.svelte
index 0ecf5dc77d..8862926857 100644
--- a/packages/svelte/tests/validator/samples/static-state-reference/input.svelte
+++ b/packages/svelte/tests/validator/samples/static-state-reference/input.svelte
@@ -1,7 +1,9 @@
 <script>
+	let obj = $state({ a: 0 });
 	let count = $state(0);
 	let doubled = $derived(count * 2);
 
+	console.log(obj);
 	console.log(count);
 	console.log(doubled);
 </script>
diff --git a/packages/svelte/tests/validator/samples/static-state-reference/warnings.json b/packages/svelte/tests/validator/samples/static-state-reference/warnings.json
index 3b63c26e75..2961bef5f7 100644
--- a/packages/svelte/tests/validator/samples/static-state-reference/warnings.json
+++ b/packages/svelte/tests/validator/samples/static-state-reference/warnings.json
@@ -4,11 +4,11 @@
 		"message": "State referenced in its own scope will never update. Did you mean to reference it inside a closure?",
 		"start": {
 			"column": 13,
-			"line": 5
+			"line": 7
 		},
 		"end": {
 			"column": 18,
-			"line": 5
+			"line": 7
 		}
 	},
 	{
@@ -16,11 +16,11 @@
 		"message": "State referenced in its own scope will never update. Did you mean to reference it inside a closure?",
 		"start": {
 			"column": 13,
-			"line": 6
+			"line": 8
 		},
 		"end": {
 			"column": 20,
-			"line": 6
+			"line": 8
 		}
 	}
 ]