@@ -499,6 +499,41 @@ def test_tag_data_larger_than_file() -> None:
     assert 1 not in ifd
 
 
+def test_tag_data_larger_than_file_across_frames() -> None:
+    # Three 1x1 frames, each with a private BYTE tag that points to the same
+    # payload, which is more than half of the file.
+    payload_size = 400
+    ifd_size = 2 + 10 * 12 + 4
+    pixel_offset = 8 + payload_size
+    first_ifd = pixel_offset + 1
+
+    data = b"II*\x00" + struct.pack("<L", first_ifd)
+    data += b"Z" * payload_size + b"\x7f"
+    for i in range(3):
+        data += struct.pack("<H", 10)
+        for tag in (256, 257, 258, 259, 262, 277):
+            value = 8 if tag == 258 else 1
+            data += struct.pack("<HHLH2x", tag, 3, 1, value)
+        for tag, value in ((273, pixel_offset), (278, 1), (279, 1)):
+            data += struct.pack("<HHLL", tag, 4, 1, value)
+        data += struct.pack("<HHLL", 65000, 1, payload_size, 8)
+        data += struct.pack("<L", first_ifd + (i + 1) * ifd_size if i < 2 else 0)
+
+    with Image.open(io.BytesIO(data)) as im:
+        assert isinstance(im, TiffImagePlugin.TiffImageFile)
+        assert len(im.tag_v2[65000]) == payload_size
+
+        for frame in (1, 2):
+            with pytest.warns(UserWarning, match="Tag data larger than file"):
+                im.seek(frame)
+            assert 65000 not in im.tag_v2
+        assert im.n_frames == 3
+
+        # Reloading a frame gives the same tags as before
+        im.seek(0)
+        assert len(im.tag_v2[65000]) == payload_size
+
+
 def test_tag_group_data() -> None:
     base_ifd = TiffImagePlugin.ImageFileDirectory_v2()
     interop_ifd = TiffImagePlugin.ImageFileDirectory_v2(group=40965)
 
@@ -622,6 +622,10 @@ def __init__(
         self.tagtype: dict[int, int] = {}
         """ Dictionary of tag types """
         self.reset()
+        # Maximum total out-of-line tag data that load() may read, as well
+        # as the size of the stream. Set by TiffImageFile so that
+        # all frames of a file share one budget.
+        self._tag_data_limit: int | None = None
         self.next = (
             self._unpack("Q", ifh[8:])[0]
             if self._bigtiff
@@ -896,8 +900,11 @@ def load(self, fp: IO[bytes]) -> None:
         self.reset()
         self._offset = fp.tell()
         fp.seek(0, io.SEEK_END)
-        file_size = fp.tell()
+        limit = fp.tell()
         fp.seek(self._offset)
+        if self._tag_data_limit is not None:
+            limit = min(limit, self._tag_data_limit)
+        self._tag_data_size = 0
 
         try:
             tag_count = (
@@ -935,9 +942,10 @@ def load(self, fp: IO[bytes]) -> None:
                     # Well-formed IFD values should fit within the stream they
                     # are read from, even before accounting for overlaps.
                     total_size += size
-                    if total_size > file_size:
+                    if total_size > limit:
                         warnings.warn(f"Tag data larger than file. Skipping tag {tag}")
                         continue
+                    self._tag_data_size += size
                     fp.seek(offset)
                     data = ImageFile._safe_read(fp, size)
                     fp.seek(here)
@@ -1217,6 +1225,13 @@ def _open(self) -> None:
         self._fp = self.fp
         self._frame_pos: list[int] = []
 
+        # Out-of-line tag data is budgeted across all frames, so that many
+        # frames cannot each read the same data. Each frame's limit is fixed
+        # when it is first loaded, so that reloading it gives the same tags.
+        self.fp.seek(0, io.SEEK_END)
+        self._tag_data_remaining = self.fp.tell()
+        self._tag_data_limits: list[int] = []
+
         logger.debug("*** TiffImageFile._open ***")
         logger.debug("- __first: %s", self.__first)
         logger.debug("- ifh: %s", repr(ifh))  # Use repr to avoid str(bytes)
@@ -1269,8 +1284,11 @@ def _seek(self, frame: int) -> None:
                 raise ValueError(msg)
             self.fp.seek(self.__next)
             self._frame_pos.append(self.__next)
+            self._tag_data_limits.append(self._tag_data_remaining)
             logger.debug("Loading tags, location: %s", self.fp.tell())
+            self.tag_v2._tag_data_limit = self._tag_data_remaining
             self.tag_v2.load(self.fp)
+            self._tag_data_remaining -= self.tag_v2._tag_data_size
             if self.tag_v2.next in self._frame_pos:
                 # This IFD has already been processed
                 # Declare this to be the end of the image
@@ -1283,6 +1301,7 @@ def _seek(self, frame: int) -> None:
                 self.is_animated = self.__next != 0
             self.__frame += 1
         self.fp.seek(self._frame_pos[frame])
+        self.tag_v2._tag_data_limit = self._tag_data_limits[frame]
         self.tag_v2.load(self.fp)
         if XMP in self.tag_v2:
             xmp = self.tag_v2[XMP]