shoot, chase, or hold down the fort?
You made the right choice, morally and ethically, by not shooting. It would appear you also made the correct legal choice for your home state.
For those who would chase people down over $7500:
What if, in the course of your pursuit, the fleeing felons have a head-on with another car, and kill a young mother and her child? This happened in Pensacola a few years back... Maybe you are willing to assume the risk for yourself, but do you really want to assume it for all the potential innocent bystanders?
You may say that any harm would ultimately be the fault of the thieves, but do you really want to live with the possible repercussions? Not talking lawsuits, or money, but severe emotional damage from having contributed to harming innocents.
On a different note, according to the OP, the alarm system goes off immediately. It went off several seconds, or longer, after the dog started barking. These thieves continued breaking into a house with a barking dog? That in itself is sort of odd, and makes me wonder if they knew the dog was not likely to attack. Still, the usual concern cited by burglars with regard to dogs is not fear of being bitten, but fear of the dog warning homeowners and neighbors that something is amiss.