diff --git a/hggit/git_handler.py b/hggit/git_handler.py
index ad2ea8d6ef94c240ed2b71722554e022d383344a_aGdnaXQvZ2l0X2hhbmRsZXIucHk=..aba4284f41ecc59a5a2e5109d0b47f27436aafc3_aGdnaXQvZ2l0X2hhbmRsZXIucHk= 100644
--- a/hggit/git_handler.py
+++ b/hggit/git_handler.py
@@ -726,7 +726,8 @@
 
                 new_ref = 'refs/remotes/%s/%s' % (remote_name, head)
                 self.git.refs[new_ref] = sha
-            elif ref_name.startswith('refs/tags'):
+            elif ref_name.startswith('refs/tags') and \
+                not ref_name.endswith('^{}'):
                 self.git.refs[ref_name] = sha