diff --git a/.changeset/loose-baboons-visit.md b/.changeset/loose-baboons-visit.md
new file mode 100644
index 0000000000..09c50deb5e
--- /dev/null
+++ b/.changeset/loose-baboons-visit.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+fix: emit state_referenced_locally warning for non-destructured props
diff --git a/packages/svelte/src/compiler/phases/2-analyze/visitors/Identifier.js b/packages/svelte/src/compiler/phases/2-analyze/visitors/Identifier.js
index 9daae33dd7..5c1e8031b8 100644
--- a/packages/svelte/src/compiler/phases/2-analyze/visitors/Identifier.js
+++ b/packages/svelte/src/compiler/phases/2-analyze/visitors/Identifier.js
@@ -115,7 +115,8 @@ export function Identifier(node, context) {
 						!should_proxy(binding.initial.arguments[0], context.state.scope)))) ||
 				binding.kind === 'raw_state' ||
 				binding.kind === 'derived' ||
-				binding.kind === 'prop') &&
+				binding.kind === 'prop' ||
+				binding.kind === 'rest_prop') &&
 			// We're only concerned with reads here
 			(parent.type !== 'AssignmentExpression' || parent.left !== node) &&
 			parent.type !== 'UpdateExpression'
diff --git a/packages/svelte/tests/snapshot/samples/props-identifier/_expected/client/index.svelte.warnings.json b/packages/svelte/tests/snapshot/samples/props-identifier/_expected/client/index.svelte.warnings.json
new file mode 100644
index 0000000000..81149a92f8
--- /dev/null
+++ b/packages/svelte/tests/snapshot/samples/props-identifier/_expected/client/index.svelte.warnings.json
@@ -0,0 +1,142 @@
+[
+	{
+		"code": "state_referenced_locally",
+		"message": "This reference only captures the initial value of `props`. Did you mean to reference it inside a closure instead?\nhttps://svelte.dev/e/state_referenced_locally",
+		"filename": "packages/svelte/tests/snapshot/samples/props-identifier/index.svelte",
+		"start": {
+			"line": 3,
+			"column": 1,
+			"character": 33
+		},
+		"end": {
+			"line": 3,
+			"column": 6,
+			"character": 38
+		},
+		"position": [
+			33,
+			38
+		],
+		"frame": "1: <script>\n2:   let props = $props();\n3:   props.a;\n          ^\n4:   props[a];\n5:   props.a.b;"
+	},
+	{
+		"code": "state_referenced_locally",
+		"message": "This reference only captures the initial value of `props`. Did you mean to reference it inside a closure instead?\nhttps://svelte.dev/e/state_referenced_locally",
+		"filename": "packages/svelte/tests/snapshot/samples/props-identifier/index.svelte",
+		"start": {
+			"line": 4,
+			"column": 1,
+			"character": 43
+		},
+		"end": {
+			"line": 4,
+			"column": 6,
+			"character": 48
+		},
+		"position": [
+			43,
+			48
+		],
+		"frame": "2:   let props = $props();\n3:   props.a;\n4:   props[a];\n          ^\n5:   props.a.b;\n6:   props.a.b = true;"
+	},
+	{
+		"code": "state_referenced_locally",
+		"message": "This reference only captures the initial value of `props`. Did you mean to reference it inside a closure instead?\nhttps://svelte.dev/e/state_referenced_locally",
+		"filename": "packages/svelte/tests/snapshot/samples/props-identifier/index.svelte",
+		"start": {
+			"line": 5,
+			"column": 1,
+			"character": 54
+		},
+		"end": {
+			"line": 5,
+			"column": 6,
+			"character": 59
+		},
+		"position": [
+			54,
+			59
+		],
+		"frame": "3:   props.a;\n4:   props[a];\n5:   props.a.b;\n          ^\n6:   props.a.b = true;\n7:   props.a = true;"
+	},
+	{
+		"code": "state_referenced_locally",
+		"message": "This reference only captures the initial value of `props`. Did you mean to reference it inside a closure instead?\nhttps://svelte.dev/e/state_referenced_locally",
+		"filename": "packages/svelte/tests/snapshot/samples/props-identifier/index.svelte",
+		"start": {
+			"line": 6,
+			"column": 1,
+			"character": 66
+		},
+		"end": {
+			"line": 6,
+			"column": 6,
+			"character": 71
+		},
+		"position": [
+			66,
+			71
+		],
+		"frame": "4:   props[a];\n5:   props.a.b;\n6:   props.a.b = true;\n          ^\n7:   props.a = true;\n8:   props[a] = true;"
+	},
+	{
+		"code": "state_referenced_locally",
+		"message": "This reference only captures the initial value of `props`. Did you mean to reference it inside a closure instead?\nhttps://svelte.dev/e/state_referenced_locally",
+		"filename": "packages/svelte/tests/snapshot/samples/props-identifier/index.svelte",
+		"start": {
+			"line": 7,
+			"column": 1,
+			"character": 85
+		},
+		"end": {
+			"line": 7,
+			"column": 6,
+			"character": 90
+		},
+		"position": [
+			85,
+			90
+		],
+		"frame": " 5:   props.a.b;\n 6:   props.a.b = true;\n 7:   props.a = true;\n           ^\n 8:   props[a] = true;\n 9:   props;"
+	},
+	{
+		"code": "state_referenced_locally",
+		"message": "This reference only captures the initial value of `props`. Did you mean to reference it inside a closure instead?\nhttps://svelte.dev/e/state_referenced_locally",
+		"filename": "packages/svelte/tests/snapshot/samples/props-identifier/index.svelte",
+		"start": {
+			"line": 8,
+			"column": 1,
+			"character": 102
+		},
+		"end": {
+			"line": 8,
+			"column": 6,
+			"character": 107
+		},
+		"position": [
+			102,
+			107
+		],
+		"frame": " 6:   props.a.b = true;\n 7:   props.a = true;\n 8:   props[a] = true;\n           ^\n 9:   props;\n10: </script>"
+	},
+	{
+		"code": "state_referenced_locally",
+		"message": "This reference only captures the initial value of `props`. Did you mean to reference it inside a closure instead?\nhttps://svelte.dev/e/state_referenced_locally",
+		"filename": "packages/svelte/tests/snapshot/samples/props-identifier/index.svelte",
+		"start": {
+			"line": 9,
+			"column": 1,
+			"character": 120
+		},
+		"end": {
+			"line": 9,
+			"column": 6,
+			"character": 125
+		},
+		"position": [
+			120,
+			125
+		],
+		"frame": " 7:   props.a = true;\n 8:   props[a] = true;\n 9:   props;\n           ^\n10: </script>\n11: "
+	}
+]
\ No newline at end of file
diff --git a/packages/svelte/tests/snapshot/samples/props-identifier/_expected/server/index.svelte.warnings.json b/packages/svelte/tests/snapshot/samples/props-identifier/_expected/server/index.svelte.warnings.json
new file mode 100644
index 0000000000..81149a92f8
--- /dev/null
+++ b/packages/svelte/tests/snapshot/samples/props-identifier/_expected/server/index.svelte.warnings.json
@@ -0,0 +1,142 @@
+[
+	{
+		"code": "state_referenced_locally",
+		"message": "This reference only captures the initial value of `props`. Did you mean to reference it inside a closure instead?\nhttps://svelte.dev/e/state_referenced_locally",
+		"filename": "packages/svelte/tests/snapshot/samples/props-identifier/index.svelte",
+		"start": {
+			"line": 3,
+			"column": 1,
+			"character": 33
+		},
+		"end": {
+			"line": 3,
+			"column": 6,
+			"character": 38
+		},
+		"position": [
+			33,
+			38
+		],
+		"frame": "1: <script>\n2:   let props = $props();\n3:   props.a;\n          ^\n4:   props[a];\n5:   props.a.b;"
+	},
+	{
+		"code": "state_referenced_locally",
+		"message": "This reference only captures the initial value of `props`. Did you mean to reference it inside a closure instead?\nhttps://svelte.dev/e/state_referenced_locally",
+		"filename": "packages/svelte/tests/snapshot/samples/props-identifier/index.svelte",
+		"start": {
+			"line": 4,
+			"column": 1,
+			"character": 43
+		},
+		"end": {
+			"line": 4,
+			"column": 6,
+			"character": 48
+		},
+		"position": [
+			43,
+			48
+		],
+		"frame": "2:   let props = $props();\n3:   props.a;\n4:   props[a];\n          ^\n5:   props.a.b;\n6:   props.a.b = true;"
+	},
+	{
+		"code": "state_referenced_locally",
+		"message": "This reference only captures the initial value of `props`. Did you mean to reference it inside a closure instead?\nhttps://svelte.dev/e/state_referenced_locally",
+		"filename": "packages/svelte/tests/snapshot/samples/props-identifier/index.svelte",
+		"start": {
+			"line": 5,
+			"column": 1,
+			"character": 54
+		},
+		"end": {
+			"line": 5,
+			"column": 6,
+			"character": 59
+		},
+		"position": [
+			54,
+			59
+		],
+		"frame": "3:   props.a;\n4:   props[a];\n5:   props.a.b;\n          ^\n6:   props.a.b = true;\n7:   props.a = true;"
+	},
+	{
+		"code": "state_referenced_locally",
+		"message": "This reference only captures the initial value of `props`. Did you mean to reference it inside a closure instead?\nhttps://svelte.dev/e/state_referenced_locally",
+		"filename": "packages/svelte/tests/snapshot/samples/props-identifier/index.svelte",
+		"start": {
+			"line": 6,
+			"column": 1,
+			"character": 66
+		},
+		"end": {
+			"line": 6,
+			"column": 6,
+			"character": 71
+		},
+		"position": [
+			66,
+			71
+		],
+		"frame": "4:   props[a];\n5:   props.a.b;\n6:   props.a.b = true;\n          ^\n7:   props.a = true;\n8:   props[a] = true;"
+	},
+	{
+		"code": "state_referenced_locally",
+		"message": "This reference only captures the initial value of `props`. Did you mean to reference it inside a closure instead?\nhttps://svelte.dev/e/state_referenced_locally",
+		"filename": "packages/svelte/tests/snapshot/samples/props-identifier/index.svelte",
+		"start": {
+			"line": 7,
+			"column": 1,
+			"character": 85
+		},
+		"end": {
+			"line": 7,
+			"column": 6,
+			"character": 90
+		},
+		"position": [
+			85,
+			90
+		],
+		"frame": " 5:   props.a.b;\n 6:   props.a.b = true;\n 7:   props.a = true;\n           ^\n 8:   props[a] = true;\n 9:   props;"
+	},
+	{
+		"code": "state_referenced_locally",
+		"message": "This reference only captures the initial value of `props`. Did you mean to reference it inside a closure instead?\nhttps://svelte.dev/e/state_referenced_locally",
+		"filename": "packages/svelte/tests/snapshot/samples/props-identifier/index.svelte",
+		"start": {
+			"line": 8,
+			"column": 1,
+			"character": 102
+		},
+		"end": {
+			"line": 8,
+			"column": 6,
+			"character": 107
+		},
+		"position": [
+			102,
+			107
+		],
+		"frame": " 6:   props.a.b = true;\n 7:   props.a = true;\n 8:   props[a] = true;\n           ^\n 9:   props;\n10: </script>"
+	},
+	{
+		"code": "state_referenced_locally",
+		"message": "This reference only captures the initial value of `props`. Did you mean to reference it inside a closure instead?\nhttps://svelte.dev/e/state_referenced_locally",
+		"filename": "packages/svelte/tests/snapshot/samples/props-identifier/index.svelte",
+		"start": {
+			"line": 9,
+			"column": 1,
+			"character": 120
+		},
+		"end": {
+			"line": 9,
+			"column": 6,
+			"character": 125
+		},
+		"position": [
+			120,
+			125
+		],
+		"frame": " 7:   props.a = true;\n 8:   props[a] = true;\n 9:   props;\n           ^\n10: </script>\n11: "
+	}
+]
\ No newline at end of file
diff --git a/packages/svelte/tests/validator/samples/state-referenced-locally-props-identifier/input.svelte b/packages/svelte/tests/validator/samples/state-referenced-locally-props-identifier/input.svelte
new file mode 100644
index 0000000000..980debdfaf
--- /dev/null
+++ b/packages/svelte/tests/validator/samples/state-referenced-locally-props-identifier/input.svelte
@@ -0,0 +1,6 @@
+<script>
+	const props = $props();
+	const { model } = props;
+	const value = props.model.value;
+	console.log(model, value);
+</script>
diff --git a/packages/svelte/tests/validator/samples/state-referenced-locally-props-identifier/warnings.json b/packages/svelte/tests/validator/samples/state-referenced-locally-props-identifier/warnings.json
new file mode 100644
index 0000000000..b1385037e1
--- /dev/null
+++ b/packages/svelte/tests/validator/samples/state-referenced-locally-props-identifier/warnings.json
@@ -0,0 +1,26 @@
+[
+	{
+		"code": "state_referenced_locally",
+		"message": "This reference only captures the initial value of `props`. Did you mean to reference it inside a closure instead?",
+		"start": {
+			"line": 3,
+			"column": 19
+		},
+		"end": {
+			"line": 3,
+			"column": 24
+		}
+	},
+	{
+		"code": "state_referenced_locally",
+		"message": "This reference only captures the initial value of `props`. Did you mean to reference it inside a closure instead?",
+		"start": {
+			"line": 4,
+			"column": 15
+		},
+		"end": {
+			"line": 4,
+			"column": 20
+		}
+	}
+]