diff --git a/.github/workflows/build.yml b/.github/workflows/build.yml
index d98214c31d1..adad03fbc74 100644
--- a/.github/workflows/build.yml
+++ b/.github/workflows/build.yml
@@ -243,6 +243,14 @@ jobs:
 
     steps:
       - uses: actions/checkout@v2
+
+      # Strip everything but MAJOR.MINOR from the version string and add a `-dev` suffix
+      # This naming convention will be used ONLY for per-commit dev images
+      - name: Set docker dev tag
+        run: |
+          version="${{ env.version }}"
+          echo "dev_tag=${version%.*}-dev" >> $GITHUB_ENV
+
       - name: Docker Build (Action)
         uses: hashicorp/actions-docker-build@v1
         with:
@@ -253,8 +261,8 @@ jobs:
             docker.io/hashicorp/${{env.repo}}:${{env.version}}
             public.ecr.aws/hashicorp/${{env.repo}}:${{env.version}}
           dev_tags: |
-            docker.io/hashicorppreview/${{ env.repo }}:${{ env.version }}
-            docker.io/hashicorppreview/${{ env.repo }}:${{ env.version }}-${{ github.sha }}
+            docker.io/hashicorppreview/${{ env.repo }}:${{ env.dev_tag }}
+            docker.io/hashicorppreview/${{ env.repo }}:${{ env.dev_tag }}-${{ github.sha }}
           smoke_test: .github/scripts/verify_docker.sh v${{ env.version }}
 
   build-docker-redhat:
diff --git a/version/version.go b/version/version.go
index a878fdaefd8..8788987d05f 100644
--- a/version/version.go
+++ b/version/version.go
@@ -10,11 +10,11 @@ var (
 	// compiler.
 	GitCommit string
 
-	// The main version number that is being run at the moment.
+	// The next version number that will be released in this series.
 	//
 	// Version must conform to the format expected by github.com/hashicorp/go-version
 	// for tests to work.
-	Version = "1.12.0"
+	Version = "1.12.3"
 
 	// https://semver.org/#spec-item-10
 	VersionMetadata = ""