Some ISPs do have bandwidth restrictions and may prohibit you from hosting your own server, especially for high traffic sites and P2P downloading or torrents. Also, if you have hard data limits, you'll probably want to avoid setting up a server outside of basic testing purposes.
Most ISPs don't mind local servers as they don't have extreme usage. For instance, basic testing or hosting a calendar server using Baikal. If you're not sure, contact your ISP to ask and explain what you're trying to accomplish. If you do need more bandwidth without restrictions, they may set you up with a business account.