diff --git a/reclass/datatypes/parameters.py b/reclass/datatypes/parameters.py
index ea803251..02418ebe 100644
--- a/reclass/datatypes/parameters.py
+++ b/reclass/datatypes/parameters.py
@@ -317,6 +317,16 @@ def _interpolate_inner(self, path, inventory):
             # list or dict has already been visited by _interpolate_inner
             del self._unrendered[path]
             return
+        # Refresh internal ref cache for the unrendered value with our current context
+        # to ensure that flattened cached references are updated if necessary if the
+        # value is part of the parameters tree of multiple nodes.
+        #
+        # Side-note (@simu,2022-05-27): I haven't quite determined when a value becomes
+        # part of the parameters tree of multiple nodes, but I've observed it to be the
+        # case by looking at `hex(id(value))` for the same parameters key in multiple
+        # targets in an example inventory which results in a ResolveError without the
+        # line below.
+        value.assembleRefs(self._base)
         self._unrendered[path] = False
         self._interpolate_references(path, value, inventory)
         new = self._interpolate_render_value(path, value, inventory)
diff --git a/reclass/tests/data/07/classes/base.yml b/reclass/tests/data/07/classes/base.yml
new file mode 100644
index 00000000..1cc9fa86
--- /dev/null
+++ b/reclass/tests/data/07/classes/base.yml
@@ -0,0 +1,14 @@
+parameters:
+  base:
+    =_mixed_lookup:
+      v1:
+        registry: ghcr.io
+        repository: path/to/image
+        tag: v1.2.0
+      v2: ${base:image}
+
+    version: v2
+    image:
+      registry: ghcr.io
+      repository: path/to/image
+      tag: v2.4.0
diff --git a/reclass/tests/data/07/classes/build.yml b/reclass/tests/data/07/classes/build.yml
new file mode 100644
index 00000000..d1b443bc
--- /dev/null
+++ b/reclass/tests/data/07/classes/build.yml
@@ -0,0 +1,5 @@
+parameters:
+  build:
+    inputs:
+      - type: https
+        source: https://example.com/downloads/${base:_mixed_lookup:${base:version}:tag}/
diff --git a/reclass/tests/data/07/classes/global.yml b/reclass/tests/data/07/classes/global.yml
new file mode 100644
index 00000000..7f196232
--- /dev/null
+++ b/reclass/tests/data/07/classes/global.yml
@@ -0,0 +1,3 @@
+parameters:
+  base:
+    version: v1
diff --git a/reclass/tests/data/07/classes/target.yml b/reclass/tests/data/07/classes/target.yml
new file mode 100644
index 00000000..199b2854
--- /dev/null
+++ b/reclass/tests/data/07/classes/target.yml
@@ -0,0 +1,3 @@
+parameters:
+  instance:
+    version: v2
diff --git a/reclass/tests/data/07/nodes/t1.yml b/reclass/tests/data/07/nodes/t1.yml
new file mode 100644
index 00000000..01b1b041
--- /dev/null
+++ b/reclass/tests/data/07/nodes/t1.yml
@@ -0,0 +1,13 @@
+classes:
+  - base
+  - build
+  - global
+  - target
+parameters:
+  _instance: t1
+  kapitan:
+    vars:
+      target: t1
+
+# Expected value for `parameters.build.inputs.0.source:
+# https://example.com/downloads/v1.2.0
diff --git a/reclass/tests/data/07/nodes/t2.yml b/reclass/tests/data/07/nodes/t2.yml
new file mode 100644
index 00000000..ea73579f
--- /dev/null
+++ b/reclass/tests/data/07/nodes/t2.yml
@@ -0,0 +1,15 @@
+classes:
+  - base
+  - build
+  - global
+  - target
+parameters:
+  _instance: t2
+  base: ${instance}
+  instance: {}
+  kapitan:
+    vars:
+      target: t2
+
+# Expected value for `parameters.build.inputs.0.source:
+# https://example.com/downloads/v2.4.0
diff --git a/reclass/tests/test_core.py b/reclass/tests/test_core.py
index dd51f3a0..cdebe65c 100644
--- a/reclass/tests/test_core.py
+++ b/reclass/tests/test_core.py
@@ -123,5 +123,14 @@ def test_application_removal(self):
         self.assertEqual(A_node['applications'], A_node['parameters']['expected_apps'])
         self.assertEqual(B_node['applications'], B_node['parameters']['expected_apps'])
 
+    def test_mixed_value_constant_parameter_lookup(self):
+        reclass = self._core("07")
+
+        t1 = reclass.nodeinfo("t1")
+        t2 = reclass.nodeinfo("t2")
+
+        self.assertEqual(t1["parameters"]["build"]["inputs"][0]["source"], "https://example.com/downloads/v1.2.0/")
+        self.assertEqual(t2["parameters"]["build"]["inputs"][0]["source"], "https://example.com/downloads/v2.4.0/")
+
 if __name__ == '__main__':
     unittest.main()