Will deleting an IMAP folder in Mail delete that folder on the server?

Kinda long story short:

I was looking at one of my email accounts in Outlook and noticed all but spam had initial caps. So I renamed and actually created a new folder named Spam. I have spam and junk working as expected, but alos have this Spam folder listed under the IMAP folders in Mac Mail and IOS.

If I delete this in Mac Mail, will it delete the folder on the server or only locally? Either will work if I know what to expect.

Thanks!