In addition to what prof. Vasiljevic said, there is high chance of formation of chlorite (ClO2) chlorate (ClO3) and per chlorate (ClO4) anions if the excess chlorine is expose to solar light, all of which are toxic and listed on the EPA priority list of toxic compounds. Although the acceptable level in surface water differs
Of course, excessive chlorination would lead to higher production of disinfectant byproducts, which is absolutely unhealthy for both fauna and flora. More reactive species production can cause mutations too.