diff --git a/src/prefect/transactions.py b/src/prefect/transactions.py
index 9274db2bdf63..70919b27ce9b 100644
--- a/src/prefect/transactions.py
+++ b/src/prefect/transactions.py
@@ -4,6 +4,7 @@
 from typing import (
     Any,
     Callable,
+    Dict,
     Generator,
     List,
     Optional,
@@ -11,7 +12,7 @@
     Union,
 )
 
-from pydantic import Field
+from pydantic import Field, PrivateAttr
 from typing_extensions import Self
 
 from prefect.context import ContextModel, FlowRunContext, TaskRunContext
@@ -64,9 +65,18 @@ class Transaction(ContextModel):
     )
     overwrite: bool = False
     logger: Union[logging.Logger, logging.LoggerAdapter, None] = None
+    _stored_values: Dict[str, Any] = PrivateAttr(default_factory=dict)
     _staged_value: Any = None
     __var__: ContextVar = ContextVar("transaction")
 
+    def set(self, name: str, value: Any) -> None:
+        self._stored_values[name] = value
+
+    def get(self, name: str) -> Any:
+        if name not in self._stored_values:
+            raise ValueError(f"Could not retrieve value for unknown key: {name}")
+        return self._stored_values.get(name)
+
     def is_committed(self) -> bool:
         return self.state == TransactionState.COMMITTED
 
diff --git a/tests/test_flows.py b/tests/test_flows.py
index 6560119c9e22..54f6dd8c3ad3 100644
--- a/tests/test_flows.py
+++ b/tests/test_flows.py
@@ -77,7 +77,7 @@
     exceptions_equal,
     get_most_recent_flow_run,
 )
-from prefect.transactions import transaction
+from prefect.transactions import get_transaction, transaction
 from prefect.types.entrypoint import EntrypointType
 from prefect.utilities.annotations import allow_failure, quote
 from prefect.utilities.callables import parameter_schema
@@ -4416,6 +4416,37 @@ def main():
         assert data2["called"] is True
         assert data1["called"] is True
 
+    def test_isolated_shared_state_on_txn_between_tasks(self):
+        data1, data2 = {}, {}
+
+        @task
+        def task1():
+            get_transaction().set("task", 1)
+
+        @task1.on_rollback
+        def rollback(txn):
+            data1["hook"] = txn.get("task")
+
+        @task
+        def task2():
+            get_transaction().set("task", 2)
+
+        @task2.on_rollback
+        def rollback2(txn):
+            data2["hook"] = txn.get("task")
+
+        @flow
+        def main():
+            with transaction():
+                task1()
+                task2()
+                raise ValueError("oopsie")
+
+        main(return_state=True)
+
+        assert data2["hook"] == 2
+        assert data1["hook"] == 1
+
     def test_task_failure_causes_previous_to_rollback(self):
         data1, data2 = {}, {}
 
@@ -4904,8 +4935,8 @@ def test_annotations_and_defaults_rely_on_imports(self, tmp_path: Path):
         source_code = dedent(
             """
         import pendulum
-        import datetime  
-        from prefect import flow               
+        import datetime
+        from prefect import flow
 
         @flow
         def f(
@@ -5033,7 +5064,7 @@ def get_model() -> BaseModel:
             def f(
                 param: Optional[MyModel] = None,
             ) -> None:
-                return MyModel()        
+                return MyModel()
             """
         )
         tmp_path.joinpath("test.py").write_text(source_code)
@@ -5052,7 +5083,7 @@ def test_raises_name_error_when_loaded_flow_cannot_run(self, tmp_path):
 
         @flow(description="Says woof!")
         def dog():
-            return not_a_function('dog')        
+            return not_a_function('dog')
             """
         )
 
diff --git a/tests/test_transactions.py b/tests/test_transactions.py
index baec004c9912..904ab2c2ff95 100644
--- a/tests/test_transactions.py
+++ b/tests/test_transactions.py
@@ -340,3 +340,24 @@ async def test_task():
             return result
 
         await test_task() == {"foo": "bar"}
+
+
+class TestHooks:
+    def test_get_and_set_data(self):
+        with transaction(key="test") as txn:
+            txn.set("x", 42)
+            assert txn.get("x") == 42
+
+    def test_get_and_set_data_in_nested_context(self):
+        with transaction(key="test") as top:
+            top.set("key", 42)
+            with transaction(key="nested") as inner:
+                inner.set("key", "string")
+                assert inner.get("key") == "string"
+                assert top.get("key") == 42
+            assert top.get("key") == 42
+
+    def test_get_raises_on_unknown(self):
+        with transaction(key="test") as txn:
+            with pytest.raises(ValueError, match="foobar"):
+                txn.get("foobar")