diff --git a/compiler/backend/src/org/jetbrains/jet/codegen/PropertyCodegen.java b/compiler/backend/src/org/jetbrains/jet/codegen/PropertyCodegen.java
index c984bd9b970..b0f66609d98 100644
--- a/compiler/backend/src/org/jetbrains/jet/codegen/PropertyCodegen.java
+++ b/compiler/backend/src/org/jetbrains/jet/codegen/PropertyCodegen.java
@@ -43,6 +43,8 @@ import org.jetbrains.org.objectweb.asm.Type;
 import org.jetbrains.org.objectweb.asm.commons.InstructionAdapter;
 import org.jetbrains.org.objectweb.asm.commons.Method;
 
+import java.util.List;
+
 import static org.jetbrains.jet.codegen.AsmUtil.*;
 import static org.jetbrains.jet.codegen.JvmCodegenUtil.getParentBodyCodegen;
 import static org.jetbrains.jet.codegen.JvmCodegenUtil.isInterface;
@@ -388,16 +390,15 @@ public class PropertyCodegen {
                 v.areturn(type);
             }
             else if (callableDescriptor instanceof PropertySetterDescriptor) {
-                ReceiverParameterDescriptor receiverParameter = propertyDescriptor.getExtensionReceiverParameter();
-                int paramCode = codegen.getContext().getContextKind() != OwnerKind.PACKAGE ? 1 : 0;
-                if (receiverParameter != null) {
-                    paramCode += codegen.typeMapper.mapType(receiverParameter.getType()).getSize();
-                }
+                List<ValueParameterDescriptor> valueParameters = callableDescriptor.getValueParameters();
+                assert valueParameters.size() == 1 : "Property setter should have only one value parameter but has " + callableDescriptor;
+                int parameterIndex = codegen.lookupLocalIndex(valueParameters.get(0));
+                assert parameterIndex >= 0 : "Local index for setter parameter should be positive or zero: " + callableDescriptor;
                 Type type = codegen.typeMapper.mapType(propertyDescriptor);
-                StackValue.Local value = StackValue.local(paramCode, type);
-                property.store(value, codegen.v);
+                property.store(StackValue.local(parameterIndex, type), codegen.v);
                 v.visitInsn(RETURN);
-            } else {
+            }
+            else {
                 throw new IllegalStateException("Unknown property accessor: " + callableDescriptor);
             }
         }
diff --git a/compiler/testData/codegen/boxWithStdlib/platformStatic/propertyInc.kt b/compiler/testData/codegen/boxWithStdlib/platformStatic/propertyInc.kt
index 558712c3918..1a7763f0a1c 100644
--- a/compiler/testData/codegen/boxWithStdlib/platformStatic/propertyInc.kt
+++ b/compiler/testData/codegen/boxWithStdlib/platformStatic/propertyInc.kt
@@ -12,20 +12,16 @@ object A {
 
 }
 
-
-
 fun box(): String {
-    if (A.test1() != "OK") return "fail 1"
 
-    if (A.test2() != "OK") return "fail 2"
+    A.a++
+    if (A.a != 2) return "fail 1"
 
-    if (A.test3() != "1OK") return "fail 3"
+    A.b++
+    if (A.b != 2) return "fail 2"
 
-    if (A.test4() != "1OK") return "fail 4"
-
-    if (with(A) {"1".test5()} != "1OK") return "fail 5"
-
-    if (A.c != "OK") return "fail 6"
+    A.c++
+    if (A.c != 2) return "fail 3"
 
     return "OK"
 }
\ No newline at end of file