diff --git a/packages/@ember/-internals/metal/lib/tracked.ts b/packages/@ember/-internals/metal/lib/tracked.ts
index 67b09e2aa60..07def0d8cd1 100644
--- a/packages/@ember/-internals/metal/lib/tracked.ts
+++ b/packages/@ember/-internals/metal/lib/tracked.ts
@@ -2,7 +2,11 @@ import { meta as metaFor } from '@ember/-internals/meta/lib/meta';
 import { isEmberArray } from '@ember/array/-internals';
 import { assert } from '@ember/debug';
 import { DEBUG } from '@glimmer/env';
+import type { UpdatableTag } from '@glimmer/interfaces';
+import { debug } from '@glimmer/validator/lib/debug';
 import { consumeTag, untrack } from '@glimmer/validator/lib/tracking';
+import { unwrap } from '@glimmer/validator/lib/utils';
+import { DIRTY_TAG } from '@glimmer/validator/lib/validators';
 import { dirtyTagFor, tagFor } from '@glimmer/validator/lib/meta';
 import { trackedData } from '@glimmer/validator/lib/tracked-data';
 import { trackedValue, type TrackedValue } from '@glimmer/validator/lib/tracked-value';
@@ -396,6 +400,35 @@ export class TrackedDescriptor {
   }
 }
 
+/**
+ * The value of one tracked accessor of one instance,
+ * with the tag that reports a change of it.
+ *
+ * The accessor keeps the cell in its own storage,
+ * so a read or a write needs no map lookup.
+ *
+ * Observers, computed chains and `notifyPropertyChange`
+ * find the tag of a key in the tag registry.
+ * So the cell uses that tag and makes none of its own.
+ */
+class AccessorCell {
+  value: unknown;
+  tag: UpdatableTag;
+
+  constructor(value: unknown, tag: UpdatableTag) {
+    /**
+     * All cells have one hidden class, and V8 records which kind of value
+     * the `value` field held so far. The first value of another kind makes
+     * V8 throw away the optimized code that reads the field.
+     *
+     * A number and then the value make the field general from the first cell.
+     */
+    this.value = 0;
+    this.value = value;
+    this.tag = tag;
+  }
+}
+
 function tracked2023(
   args: Parameters<Decorator>,
   options?: { equals?: (a: any, b: any) => boolean; description?: string }
@@ -417,28 +450,63 @@ function tracked2023(
       return;
     case 'accessor': {
       let equals = options?.equals;
+      let key = dec.context.name;
+      let storage = dec.value;
+
       return {
         get(this: object) {
-          consumeTag(tagFor(this, dec.context.name));
-          let value = dec.value.get.call(this);
+          let stored = storage.get.call(this);
+          let cell: AccessorCell;
+
+          if (stored instanceof AccessorCell) {
+            cell = stored;
+          } else {
+            /**
+             * The storage holds the plain value until the first read.
+             * An instance whose accessor is never read
+             * has no cell and no tag.
+             */
+            cell = new AccessorCell(stored, tagFor(this, key) as UpdatableTag);
+            storage.set.call(this, cell);
+          }
+
+          consumeTag(cell.tag);
+
+          let value = cell.value;
+
           if (Array.isArray(value) || isEmberArray(value)) {
             consumeTag(tagFor(value, '[]'));
           }
           return value;
         },
         set(this: object, value: unknown) {
-          if (
-            equals !== undefined &&
-            equals(
-              untrack(() => dec.value.get.call(this)),
-              value
-            )
-          ) {
-            return;
+          let stored = storage.get.call(this);
+
+          if (stored instanceof AccessorCell) {
+            if (equals !== undefined && equals(stored.value, value)) {
+              return;
+            }
+
+            if (DEBUG) {
+              unwrap(debug.assertTagNotConsumed)(stored.tag, this, key);
+            }
+
+            DIRTY_TAG(stored.tag, true);
+            dirtyTagFor(this, SELF_TAG);
+            stored.value = value;
+          } else {
+            if (equals !== undefined && equals(stored, value)) {
+              return;
+            }
+
+            /**
+             * No read made a cell yet. The registry can still have a tag,
+             * from other code that asked for it by key.
+             */
+            dirtyTagFor(this, key);
+            dirtyTagFor(this, SELF_TAG);
+            storage.set.call(this, value);
           }
-          dirtyTagFor(this, dec.context.name);
-          dirtyTagFor(this, SELF_TAG);
-          return dec.value.set.call(this, value);
         },
       };
     }
diff --git a/packages/@ember/-internals/metal/tests/tracked/accessor_test.js b/packages/@ember/-internals/metal/tests/tracked/accessor_test.js
new file mode 100644
index 00000000000..07b94054924
--- /dev/null
+++ b/packages/@ember/-internals/metal/tests/tracked/accessor_test.js
@@ -0,0 +1,200 @@
+import { AbstractTestCase, moduleFor } from 'internal-test-helpers';
+import {
+  computed,
+  defineProperty,
+  get,
+  notifyPropertyChange,
+  tagForProperty,
+  tracked,
+} from '../..';
+
+import { track, valueForTag, validateTag } from '@glimmer/validator';
+
+/*
+  A class with a tracked accessor `count`, with the decorator applied by hand.
+
+  The legacy decorator build of the tests cannot compile the `accessor`
+  keyword, so this does what a stage 3 transform emits.
+*/
+function classWithTrackedAccessor(decorator, initial) {
+  let decorated;
+
+  class Example {
+    #count = decorated.init ? decorated.init.call(this, initial) : initial;
+
+    get count() {
+      return decorated.get.call(this);
+    }
+
+    set count(value) {
+      decorated.set.call(this, value);
+    }
+
+    static storage = {
+      get() {
+        return this.#count;
+      },
+      set(value) {
+        this.#count = value;
+      },
+    };
+
+    toString() {
+      return 'Example';
+    }
+  }
+
+  decorated = decorator(Example.storage, {
+    kind: 'accessor',
+    name: 'count',
+    static: false,
+    private: false,
+    addInitializer() {},
+    metadata: {},
+  });
+
+  return Example;
+}
+
+moduleFor(
+  '@tracked accessor',
+  class extends AbstractTestCase {
+    ['@test a read gives the initial value and a write invalidates'](assert) {
+      let Example = classWithTrackedAccessor(tracked, 0);
+      let obj = new Example();
+
+      let tag = track(() => obj.count);
+      let snapshot = valueForTag(tag);
+
+      assert.strictEqual(obj.count, 0);
+      assert.true(validateTag(tag, snapshot));
+
+      obj.count = 1;
+
+      assert.false(validateTag(tag, snapshot));
+      assert.strictEqual(obj.count, 1);
+    }
+
+    ['@test a write before the first read keeps the value'](assert) {
+      let Example = classWithTrackedAccessor(tracked, 0);
+      let obj = new Example();
+
+      obj.count = 5;
+
+      assert.strictEqual(obj.count, 5);
+    }
+
+    ['@test instances do not share a value or a tag'](assert) {
+      let Example = classWithTrackedAccessor(tracked, 0);
+      let first = new Example();
+      let second = new Example();
+
+      let tag = track(() => second.count);
+      let snapshot = valueForTag(tag);
+
+      first.count = 1;
+
+      assert.true(validateTag(tag, snapshot));
+      assert.strictEqual(second.count, 0);
+    }
+
+    ['@test a write dirties the tag that tagForProperty gave before the first read or write'](
+      assert
+    ) {
+      let Example = classWithTrackedAccessor(tracked, 0);
+      let obj = new Example();
+
+      let tag = tagForProperty(obj, 'count');
+      let snapshot = valueForTag(tag);
+
+      obj.count = 1;
+
+      assert.false(validateTag(tag, snapshot));
+    }
+
+    ['@test notifyPropertyChange dirties the tag that a read consumed'](assert) {
+      let Example = classWithTrackedAccessor(tracked, 0);
+      let obj = new Example();
+
+      let tag = track(() => obj.count);
+      let snapshot = valueForTag(tag);
+
+      notifyPropertyChange(obj, 'count');
+
+      assert.false(validateTag(tag, snapshot));
+    }
+
+    ['@test a computed property with the accessor as a dependent key updates'](assert) {
+      let Example = classWithTrackedAccessor(tracked, 1);
+
+      defineProperty(
+        Example.prototype,
+        'double',
+        computed('count', function () {
+          return this.count * 2;
+        })
+      );
+
+      let obj = new Example();
+
+      assert.strictEqual(get(obj, 'double'), 2);
+
+      obj.count = 2;
+
+      assert.strictEqual(get(obj, 'double'), 4);
+    }
+
+    ['@test self-assignment invalidates without an equals option'](assert) {
+      let Example = classWithTrackedAccessor(tracked, 0);
+      let obj = new Example();
+
+      let tag = track(() => obj.count);
+      let snapshot = valueForTag(tag);
+
+      obj.count = 0;
+
+      assert.false(validateTag(tag, snapshot));
+    }
+
+    ['@test the equals option skips a write of an equal value'](assert) {
+      let Example = classWithTrackedAccessor(tracked({ equals: (a, b) => a === b }), 0);
+      let obj = new Example();
+
+      let tag = track(() => obj.count);
+      let snapshot = valueForTag(tag);
+
+      obj.count = 0;
+
+      assert.true(validateTag(tag, snapshot));
+
+      obj.count = 1;
+
+      assert.false(validateTag(tag, snapshot));
+      assert.strictEqual(obj.count, 1);
+    }
+
+    ['@test a read of an array value consumes the tag of the array'](assert) {
+      let Example = classWithTrackedAccessor(tracked, []);
+      let obj = new Example();
+
+      let tag = track(() => obj.count);
+      let snapshot = valueForTag(tag);
+
+      notifyPropertyChange(obj.count, '[]');
+
+      assert.false(validateTag(tag, snapshot));
+    }
+
+    ['@test a write after a read in the same computation names the object and the key']() {
+      let Example = classWithTrackedAccessor(tracked, 0);
+      let obj = new Example();
+
+      expectAssertion(() => {
+        track(() => {
+          obj.count;
+          obj.count = 1;
+        });
+      }, /You attempted to update `count` on `Example`, but it had already been used previously in the same computation/);
+    }
+  }
+);